Quote of the Day
"I believe it would be best if we stopped telling ourselves that tech titans are oracles of anything other than tech itself."
(Adam Lashinsky)
Chart of the Day
(blockworks.co)Threads
- Casey Newton, "To Zuckerberg, the concept [Threads] has been proved out. The rest is simply an execution problem." (platformer.news)
- Threads is still very much a Meta ($META) product. (honest-broker.com)
- Prior social media companies were built on the fly. Threads can avoid that problem. (theatlantic.com)
AI
- Meta ($META) is open-sourcing LLaMA 2. (technologyreview.com)
- Future AI models may end up getting trained on AI-generated content. (om.co)
- Hollywood strikes are, in part, about the prospects of AI use. (axios.com)
Space
- Viasat's new $700 million communications satellite is likely a full write-off. (arstechnica.com)
- SpaceX is expected to double revenue in 2023. (theinformation.com)
Finance
- Banks are having to boost deposit rates to hold onto deposits. (bloomberg.com)
- Are leveraged loans securities? (institutionalinvestor.com)
- The market for auto loans is tightening. (ft.com)
Pharma
- Novartis ($NVS) is spinning off its generic drug division. (bloomberg.com)
- An experimental Eli Lilly ($LLY) drug is useful in the early stages of Alzheimer's disease. (thedailybeast.com)
- Add J&J ($JNJ) to the list of companies suing the administration over Medicare drug price negotiations. (cnbc.com)
Fund management
- How AI will affect parts of the investment industry including financial advisors. (morningstar.com)
- Index construction has changed over time. (morningstar.com)
- Strive Asset Management is toning down its anti-woke agenda. (semafor.com)
Global
- Canada's consumer inflation rate dropped below 3%. (bnnbloomberg.ca)
- Conglomerate IHC dominates the Abu Dhabi stock market. (wsj.com)
- China is not panicked, yet, about economic growth. (economist.com)
Economy
- Industrial production fell in June 2023. (bonddad.blogspot.com)
- National homebuilder confidence ticked up in July. (calculatedriskblog.com)
- What caused pandemic-era inflation? (papers.ssrn.com)
Earlier on Abnormal Returns
- Research links: the promise of outperformance. (abnormalreturns.com)
- What you missed in our Monday linkfest. (abnormalreturns.com)
- Adviser links: something to look forward to. (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)