Quote of the Day “When I look at Silicon Valley these days, it is hard to see folks dedicated to free markets and productive entrepreneurship.” (Daniel Drezner) Chart of the Day (allstarcharts.com) Technology stocks are at a new all-time high. Markets The U.S. stock market hasn’t made a new high in nearly 500 trading days. (awealthofcommonsense.com) How this yield curve steepening is different. (integratinginvestor.com) Strategy ESG, or not, people are going to invest according to their values. (ritholtz.com) On the downside of focusing on high dividend yields. (insights.finominal.com) Crypto Do futures-backed Bitcoin ETFs have a future? (ft.com) CoinDesk is changing hands. (wsj.com) The wash-sale rule doesn’t (yet) apply to cryptocurrencies. (coindesk.com) AI Microsoft ($MSFT) is the big winner in the OpenAI fiasco. (stratechery.com) AI development is computationally, and financially, expensive. (axios.com) Finance Wherever you look, PE firms are struggling to exit investments. (ft.com) California still dominates venture capital funding. (news.crunchbase.com) Economy Fed officials talk WAY too much these days. (bloomberg.com) Everything is great, and people are miserable. (vox.com) The trucking industry is in a downturn. (snippet.finance) Earlier on Abnormal Returns Adviser links: a one-way street. (abnormalreturns.com) What you missed in our Sunday linkfest. (abnormalreturns.com) What everyone read last week on the site. (abnormalreturns.com) Are you a financial adviser looking for some out-of-the-box thinking? Then check out our weekly e-mail newsletter. (newsletter.abnormalreturns.com)
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