Quote of the Day
"We've stopped talking about what it means to be pro-business as a country. That's a problem — and it's a shame...There are plenty of critics who want to tell you everything that is wrong with capitalism."
(Suzanne Clark)
Chart of the Day
Grayscale Bitcoin Trust ($GBTC) holders over the past year have benefited from a rebound in the price of Bitcoin and a narrowing discount to NAV. (chart via YCharts)
Markets
- Microsoft ($MSFT) has nearly overtaken Apple ($AAPL) as the market cap leader. (wsj.com)
- Uranium prices are at their highest level since 2007. (semafor.com)
Crypto
- How to choose among the many spot Bitcoin ETFs. (morningstar.com)
- How long can Grayscale hold out against the Bitcoin ETF fee war? (riabiz.com)
- Vanguard is not going to allow customers to purchase of spot Bitcoin ETFs. (theblock.co)
- Why an spot Ethereum ETF could be next up for approval. (theblock.co)
- Stablecoin issuer Circle has filed to go public. (blockworks.co)
- It seems appropriate that 'This is Not Investment Advice' is available on the day the spot Bitcoin ETFs went live. (howardlindzon.com)
EVs
- Hertz ($HTZ) is selling off a bunch of Teslas ($TSLA). (theverge.com)
- GM ($GM) is providing incentives to make up for the loss of EV tax credits. (fatherly.com)
- How Hyundai excels in EVs by focusing on smaller vehicles. (ft.com)
Economy
- Weekly initial unemployment claims aren't budging. (bonddad.blogspot.com)
- Consumer price inflation is all about lagged housing costs. (ritholtz.com)
- Why it's time for the Fed to start cutting rates. (stayathomemacro.substack.com)
- A guess for real GDP growth in 2024. (calculatedriskblog.com)
Earlier on Abnormal Returns
- Longform links: profound distrust. (abnormalreturns.com)
- What you missed in our Wednesday linkfest. (abnormalreturns.com)
- Personal finance links: investment politicians. (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)