View this post on the web at https://theoilbandit.substack.com/p/decompression I had a much more elaborate piece ready on the convergence between physical and futures markets… but given recent events, we’ll keep this to a quick take. It’s all still...
The best Stratechery content from the week of April 13, 2026, including the cost of AI, what Amazon is doing with Globalstar, and Nico Rosberg on racing and investing. View in browser (...
Money Stuff This week’s episode of the Money Stuff podcast is out now, in which Katie and I discuss the weather, NewBird AI, Long Blockchain, floating-s Podcast This week’s episode of the Money Stuff podcast is out now, in which Katie and I discuss...
Money Stuff Tax, tokens, proxies, trucks, pivots. View in browser Pre-tax alpha We talked last month about tax alpha. The basic idea is that it is hard to beat the market by buying the stocks that go up and avoiding the stocks that go down. It is,...
Money Stuff NewBird, Avis, golf, courses. View in browser New Bird I feel like, if you ran a big technology company, and you were looking to expand your artificial intelligence capabilities and needed to rent access to graphics processing units, and...
Money Stuff Tranching, BDCs, carbon, mentions. View in browser Banks and private credit It is bank earnings week, and people are worried about private credit. You could imagine banks gloating. “People are worried about the credit quality of...
NO. 638 FREE EDITION SUNDAY 12 APRIL 2026 SPONSORED BY ATTIO https://ben- evans.us6.list- manage.com/track/click?u=b98e2de85f03865f1d38de74f&id;=7289458ba8&e;=0646444dc3 Attio...
True compassion is more than flinging a coin to a beggar; it understands that an edifice which produces beggars needs restructuring. – MARTIN LUTHER KING JR. Artwork by Fran Pulido [1] [Dense Discovery] [2] [Dense Discovery] [2] HELLO DISCOVERERS!...
Money Stuff Liquidity, resolution, Mythos, concierge. View in browser Prediction market microstructure I write about sports gambling around here more than I used to, because sports gambling has become pretty closely integrated with postmodern...
Does Aggregation Theory survive in a world of constrained compute? Yes, insomuch as controlling demand will give power over supply. View in browser...
View this post on the web at https://nathanbenaich.substack.com/p/state-of-ai- april-2026-newsletter Dear readers, Welcome to the latest issue of the State of AI, an editorialized newsletter that covers the key developments in AI policy, research,...
View this post on the web at https://nathanbenaich.substack.com/p/state-of-ai- april-2026-newsletter Dear readers, Welcome to the latest issue of the State of AI, an editorialized newsletter that covers the key developments in AI policy, research,...
View this post on the web at https://theoilbandit.substack.com/p/dude-wheres- my-barrel We have seen several cease fire attempts in recent times, and none has appeared as fragile as this latest one. While talks continue, the only thing that truly...
The best Stratechery content from the week of April 6, 2026, including Anthropic, The New York Times and another paradigm shift, and The New Yorker explains Sam Altman. View in browser (...
Money Stuff This week’s episode of the Money Stuff podcast is out now, in which Katie and I discuss Satoshi Nakamoto, spotting liars, Katie being a witc Podcast This week’s episode of the Money Stuff podcast is out now, in which Katie and I discuss...
Money Stuff Anomaly, Insta, venting, index, asymmetry, Satoshi. View in browser Bitcoin After Dark A famous financial anomaly is that the stock market mostlygoes up when it’s closed : “Over at least the past three decades, investors have earned 100%...
Money Stuff Public, Satoshi, dispersion, audit. View in browser AI agents in retail investing People do not like to lose money on stocks. Sometimes a stock goes down, and people who own it sell it to avoid losing more money, so it goes down more....
********* Commoncog ********* a newsletter on accelerating business expertise \------------------- Commoncog This Week \------------------- This week's Commoncog piece is free; next week's piece will be members-only. ​How Experts Sensemake (...
Money Stuff SPARC, GS Credit, JPM runs, E. coli. View in browser Not everything is securities fraud A thing that sometimes happens is: * Two companies agree to a merger. The buyer will buy the target at some premium to its current stock price. * They...
NO. 637 FREE EDITION SUNDAY 5 APRIL 2026 SPONSORED BY LINEAR https://ben- evans.us6.list- manage.com/track/click?u=b98e2de85f03865f1d38de74f&id;=17ebc2e892&e;=0646444dc3 Meet the coordination layer for human and AI product development...
Find out just what any people will quietly submit to and you have found out the exact measure of injustice and wrong which will be imposed upon them. – FREDERICK DOUGLASS Artwork by Elin Matilda Andersson [1] [Dense Discovery] [2] [Dense Discovery]...
Hey friends, Hope your Easter’s been better than ours 😢 On Friday, we got hacked by (what we think are) Russian crypto scammers. They targeted our website (aliabdaal.com) and our email list, and exploited a vulnerability in a third-party plugin to...
Money Stuff Grok, QQQ, Altman, VC laundry. View in browser Have US ground troops entered Iran? Last weekend, Bloomberg Weekend had a great story by Christopher Beam about how linguists are annoyed at Kalshi. Kalshi is a prediction market where you...
View this post on the web at https://www.quant-galore.com/p/a-junior-quants- guide-to-event-driven When you see a stock with performance like this: You have to know that it didn’t get that way overnight. And more often than not, it didn’t get that way...
View this post on the web at https://theoilbandit.substack.com/p/running-out- of-buffers This was the week when on this side of Suez we truly started to feel the impact. ICE gasoil at $200/bbl, refineries fighting over cargoes, flows rotating east,...