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Monday links: a captured agency

May 2026

  • The S&P 500 returned 5.26% in May 2026. (on.spdji.com)
  • How major asset classes performed in May 2026. (capitalspectator.com)

IPOs

  • Anthropic has filed to go public. (techcrunch.com)
  • Investors are finding new ways to get into pre-IPO shares. (bloomberg.com)

ETFs

  • Does the world really need prediction market-based ETFs? (morningstar.com)
  • Who's the target market for target date corporate bond ETFs? (obliviousinvestor.com)

Berkshire Hathaway

  • Max Anderson, "Buffett built his legacy not just through genius investing, but through developing a reputation for doing business the right way." (theweekendreader.substack.com)
  • Berkshire Hathaway ($BRK.A) is buying Taylor Morrison ($TMHC). (finance.yahoo.com)

AI

  • Canary Data, makes AI software for professional financial analysts and investors. (wsj.com)
  • How Schneider Electric uses AI. (nytimes.com)
  • How StockTwits uses AI. (howardlindzon.com)

Europe

  • Why Spain's economy is outperforming. (theatlantic.com)
  • How Germany lost its way. (nytimes.com)
  • Europe needs immigrants. (unchartedterritories.tomaspueyo.com)

Economy

  • How politics has infected consumer sentiment data. (stayathomemacro.substack.com)
  • AI is driving manufacturing spending. (bonddad.blogspot.com)

Earlier on Abnormal Returns

  • Adviser links: inordinate time. (abnormalreturns.com)
  • What you missed in our Sunday linkfest. (abnormalreturns.com)
  • What you missed last week on Abnormal Returns. (abnormalreturns.com)
  • Don't miss a thing! Sign up for our daily e-mail newsletter. (abnormalreturns.com)

Mixed media

  • There seems to be growing interest in rare book collecting. (engelsbergideas.com)
  • Social media isn't completely broken. (danieldrezner.substack.com)
  • Reading matters. (nytimes.com)