Wednesday links: holding grudges

Quote of the Day "The ex you blocked actually wronged you. The stock never did – your own regret did. And unlike an ex, a stock holds no grudge in being called again." (Clare Flynn Levy) Chart of the Day South Korea’s stock market is feeling the pain of the semiconductor sell-off. (chart via YCharts) Mag 7 - The Mag 7 era for markets is over. (chartkidmatt.com) - CDS spreads for the Mag 7 companies are on the rise. (apollo.com) Strategy - Tony Isola, "Never confuse an unavailable price for a lack of volatility." (tonyisola.com) - Do retail investors really need perpetual futures? (economist.com) - Diversification has worked in 2026. (morningstar.com) ETFs - ETFs now cover (nearly) every potential asset. (etf.com) - Corgi is running the blitzscaling playbook in ETFs. (etf.com) Prediction markets - Do we really want people betting on the outcome of clinical trials? (nytimes.com) - Polymarket is backing a new media company, Eventual. (axios.com) - When you hire influencers, sometimes they post controversial stuff. (sportico.com) Companies - Why employee ownership matters. (mastersinvest.com) - Cisco ($CSCO) and Sysco ($SYY) get confused...a lot. (bloomberg.com) - Meet the Congressmen buying SpaceX ($SPCX) shares. (cnbc.com) Bloomberg - Bloomberg is planning for post-Michael Bloomberg era. (semafor.com) - Bloomberg is buying alts-focused data company Canoe Intelligence. (citywire.com) Stay in touch - Are you a financial advisor? Sign up for our exclusive Talking Wealth newsletter. (talkingwealthpod.com) - Don't miss a thing! Sign up for our daily e-mail newsletter. (abnormalreturns.com) AI - Anthropic is rapidly rising the sales ranks. (axios.com) - AI dector, Pangram, just raised a new round of capital. (nytimes.com) - We're not really ready for an acceleration in automated AI research. (thezvi.substack.com) - If we are going to regulate AI, who should do the regulating? (theatlantic.com) FOMC - What an LLM says about the July FOMC meeting. (ft.com) - What's the difference between 2% and 3% inflation? (klementoninvesting.substack.com) - How to read the FOMC statement. (stayathomemacro.substack.com) Earlier on Abnormal Returns - Personal finance links: how life unfolds. (abnormalreturns.com) - What you missed in our Tuesday linkfest. (abnormalreturns.com) - Research links: unbundling asset management. (abnormalreturns.com) Mixed media - Just because AI makes launching a business easier, doesn't mean it has a better chance of success. (bloomberg.com) - ChatGPT will stop letting you copy a writer's style. (arstechnica.com) - There is a good chance that self-published book was written (in part) by AI. (nytimes.com) - AI consumes the Internet differently than humans. (futurism.com)