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Finance
- Successful SPAC stories, like DraftKings ($DKNG), are few and far between. (sportico.com)
- Softbank continues to trade at a big discount to its NAV. (ft.com)
Alternatives
- The Wellington, Vanguard, and Blackstone alternatives hookup is disappointing. (riabiz.com)
- Retail-focused alternative vehicles are buying secondary stakes. (ft.com)
- Citi ($C) is selling its wealth alternatives platform to iCapital. (thinkadvisor.com)
Crypto
- Texas is the national epicenter of Bitcoin mining, putting pressure on water and energy resources. (texasobserver.org)
- Robinhood ($HOOD) is buying WonderFi to expand into Canada. (betakit.com)
- Big $TRUMP holders have gotten what they wanted, have sold down their positions. (nytimes.com)
Weight loss drugs
- In a trial, Zepbound bested WeGovy on weight loss. (newatlas.com)
- CVS Health’s Caremark ($CVS) is removing Eli Lilly’s Zepbound from its formulary. (nytimes.com)
- GLP-1 agonists are effective at reducing visceral fat. (theatlantic.com)
- Why people feel the need to lie about their Ozempic use. (theguardian.com)
Energy
- Big Oil is increasingly offshoring specialized engineering and geologist jobs. (wsj.com)
- At these prices, nobody is itching to drill more in the U.S. (paulkrugman.substack.com)
Economy
- Some certainty on tariffs provides a moment of relief. (disciplinefunds.com)
- In April, still no sign of a sustained pickup in CPI. (bonddad.blogspot.com)
- Why equalizing global pharma prices will lead to less innovation. (marginalrevolution.com)
- The math on comparative advantage is pretty straightfoward. (econlib.org)
Earlier on Abnormal Returns
- Research links: an imperfect hedge. (abnormalreturns.com)
- What you missed in our Monday linkfest. (abnormalreturns.com)
- Adviser links: something to avoid. (abnormalreturns.com)
- You can now follow up on Bluesky. (bsky.app)
- Don’t want to miss a thing? Sign up for our daily e-mail newsletter. (abnormalreturns.com)
Mixed media
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