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10 Weekend Reads

The Big Picture

Global Financial Data ) Vanguard 2025 economic and market outlook : The global monetary easing cycle will be in full swing in 2025, with inflation in most developed economies now within touching distance of central banks targets. economy, while other economies have been less lucky. Luxury car sales fell 27%.

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Monday links: an irritating tactic

Abnormal Returns

(sherwood.news) Automattic CEO and WordPress co-creator Matt Mullenweg is at war with WP Engine. techcrunch.com) Economy Inflation stung, but wages are now outpacing price growth. bloomberg.com) The services economy is far outpacing manufacturing. optimisticallie.com) Don't expect much lower mortgage rates absent a recession.

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Market Concentration

The Big Picture

These reflect the economic dominance of one specific part of the economy or another for very long periods of time. You might be surprised at the findings. As the chart above shows, there are long periods of market concentration. I suggest you go read the entire piece, here.

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Friday links: witnessing reality

Abnormal Returns

sherwood.news) AI Why Reddit ($RDDT) is cracking down on search engines. wsj.com) Economy The June PCE price index increased 2.5% economy is impressive. (sherwood.news) Lineage ($LINE), the world's largest refrigerated-storage company, just went public. theverge.com) The number of AI models just keeps growing.

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Predicting the Next Recession

Calculated Risk

We did see negative real GDP growth in Q1 and in Q2 - but that didn't mean the US economy was in a recession (and this has never been the definition of a US recession). And other measures of the economy were also positive, especially employment. I disagreed and noted I wasn't even on recession watch! And guess what?

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Activist Investor Engine No. 1 Launches Supply Chain ETF

Wealth Management

SUPP invests in companies that will help make supply chains more resilient through the “relocalization of manufacturing, automation and innovation” after Covid-19 snarled the logistics of the global economy,

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Monday links: attention as an asset class

Abnormal Returns

(theverge.com) Generative AI search engine Perplexity is planning to start selling ads. ft.com) Global How India's economy performed under Modi. nytimes.com) Economy Economists are struggling with post-pandemic labor data. adweek.com) Who is liable when AI goes wrong? ft.com) Some positive news on the manufacturing front.

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