What we’re reading (12/11)
“How Likely Is A Stock Market Crash?” (Victor Haghani and James White). “Some well-known market observers see a big crash coming – e.g. Mark ‘the crash guy’ Spitznagel, protégé of Black Swan author Nassim Taleb, Michael Burry of The Big Short fame, and Bridgewater founder Ray Dalio. For example, in a recent interview with the WSJ, Spitznagel said: ‘I do expect an 80% crash…but only after a massive, euphoric, historic blow-off rally.’ A statement such as this suggests that Spitznagel believes there’s a greater than 50% chance of at least a 30% market sell-off coming in the foreseeable future, though he’s a bit vague about the exact timing, and the magnitude of the ‘blow-off rally’ that will precede it.”
“Behind The Deal That Took Disney From AI Skeptic To OpenAI Investor” (Wall Street Journal). “OpenAI and Disney disagreed over whether AI companies have the legal right to train models on copyrighted content, an enduring point of tension between Silicon Valley and creatives. Yet Gutierrez’s fireside chat with OpenAI’s intellectual property and content chief Tom Rubin was collegial, according to people familiar with the matter.”
“Fed Cuts Or Not, The Stock Market Is Likely To Move Higher In 2026” (MarketWatch). “There’s a 66% probability that the stock market will rise in 2026. Good news — but this bullishness is not based on an analysis of current market conditions. The U.S. stock market would have a 2 in 3 chance of rising in 2026 even if stocks had lost money this year or if market valuations were less stretched than they are currently.”
“Wall Street Is Starting To Worry About A ‘Lost Decade’ For US Stocks” (Business Insider). “A dark thought is starting to circulate around Wall Street. What if, after years of stellar gains, the US stock market is basically flat for the next decade?”
“With Trump Watching, Coke Makes Clear Its New CEO Is American” (Yahoo! Finance). “Coca-Cola Co.’s advertising has long made clear that its flagship product is “the Real Thing.” Now, the beverage giant wants you to know that its new chief is a real American. In Wednesday’s press release announcing that Henrique Braun would succeed James Quincey as the company’s top executive, Coca-Cola said Braun “is an American citizen who was born in California and raised in Brazil.”
