Wednesday links: community decay

Markets

• Why UnitedHealth ($UNH) is a big drag on the Dow. (axios.com)
• Buying the dip works until it doesn’t. (advisorperspectives.com)

Companies

• Airbnb ($ABNB) wants to become an everything app. (spyglass.org)
• Who wins if OpenAI becomes a PBC? (sherwood.news)
• Is Apple ($AAPL) too successful? (asymco.com)

ETFs

• Investors continue to pour money into low-cost ETFs, but new ETFs are by and large high fee. (morningstar.com)
• The many reasons why there will never be another Warren Buffett. (ft.com)
• What you need to know about the costs of interval funds. (morningstar.com)

Entertainment

• HBO Max is back! (variety.com)
• Hollywood has a ‘Black Bag’ problem. (spyglass.org)
• How often do lead characters in movies die? (stephenfollows.com)

Economy

• The American consumer is hanging in there. (bonddad.blogspot.com)
• But 84 month car loans? Seriously? (awealthofcommonsense.com)

Earlier on Abnormal Returns

• Personal finance links: a false belief. (abnormalreturns.com)
• What you missed in our Tuesday linkfest. (abnormalreturns.com)
• Research links: an imperfect hedge. (abnormalreturns.com)
• Don’t want to miss a thing? Sign up for our daily e-mail newsletter. (abnormalreturns.com)

Mixed media

• Kalshi just keeps winning. (frontofficesports.com)
• Three trends shaping sports gambling in the U.S. (businessinsider.com)
• Ray Ratto, “The 1919 Black Sox are BACK!” (defector.com)