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What six years and 300+ posts of Net Interest say about where finance is heading
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2026.44: At Long Last
The best Stratechery content from the week of October 26, 2026 including Anthropic numbers, the end of the Internet as we know it, and autocracies then and now.
Friday links: new challenges
Sharp Tech on Video: Anthropic’s S-1 and What It Means for Meta and Muse, You Can See Everything, and Brewers!
Sharp Tech is, for the first time, available on video. You have three ways to consume it: YouTube, Spotify, and here on Stratechery.
Demographics is not destiny
Next week Tuesday, Americans will go to the polls to determine who controls Congress for the next two years.
Tech Makes a Mess as Wrinkles Start to Show. Markets Are Edgy Now, Aren’t They?
These are some sudden massive movements in even huge stocks.
Is Buying a House Now a Bad Investment?
Housing is not an investment. The post Is Buying a House Now a Bad Investment? appeared first on A Wealth of Common Sense. ...
Thursday links: voting share design
Longform links: inefficient interactions
Thursdays are all about longform links on Abnormal Returns. Wherever possible, free links for premium sites are used. You can check out...
Wednesday links: being held accountable
Personal finance links: finding enough
Wednesdays are all about personal finance here at Abnormal Returns. You can check out last week’s links including a look at the...
Gold reserves and exchange rate management
Gold bugs sometimes claim that central banks should own more gold as part of their reserve holdings.
Why Smart People Make Dumb Decisions
Elizabeth Holmes and the power of self-deception. The post Why Smart People Make Dumb Decisions appeared first on A Wealth of Common Sense. ...
Tuesday links: being distinctly human
Research links: fundamental explanations
Tuesdays are all about academic (and practitioner) literature at Abnormal Returns. You can check out last week’s edition including a look at...
Can You Count on Social Security in Retirement?
A few weeks ago, this tweet set off a firestorm on Twitter/X: JUST IN: 🇺🇸 US boomers overwhelmingly support higher taxes on younger workers to maintain current Social Security benefits, poll shows. After the usual boomer bashing, the conversation quickly turned to a question I often get from younger readers: Can I count on Social Security in retirement? It's a fair question. If you're in your…
The decline of German manufacturing
The second China shock is top of the agenda among European manufacturing businesses and in political circles.
Neutral
The End of the Internet
The old Internet, where anyone could host a server is over, but it's just the final blow in an ending that has been coming for years. The future, though, is brighter than it appears.
Building DACCS the right way
Direct Air Carbon Capture and Storage (DACCS), the technology to remove CO2 from the air and store it underground, is a controversial technology, mostly because it is unclear if it ever works at reasonable cost and scale.
What If This is the Worst Time to Retire?
I talked to Christine Benz about the many challenges involved in retirement planning. The post What If This is the Worst Time to Retire? appeared first on A Wealth of Common Sense. ...
The internet breaks
2026.43: A New Era
The best Stratechery content from the week of October 19, 2026, including the best iPad but worst phone, SS Sarandos in a storm, and You Can See Everything.
Capital Wars
CoreWeave and the Economics of a Data Center Build
The civil service may save us all
I am not a fan of civil servants, but in the current political climate, they may end up as our saving grace.
France and the limits of liberalism
Immigration, the welfare state, and Keynesian economics are all showing signs of strain.
Europe’s fragmentation impacts research
“You Can See Everything” and the nature of liars
A movie review, plus some thoughts on dishonesty, belief, and human communication.
Career risk trumps investment risk
As someone who has worked most of his career on the buy side, I know that career risk is real and overrides many investment considerations.
What is the Average Net Worth by Age? [2025 Latest Data]
Do you want to know how you are doing relative to your peers financially? Then this is the article for you. The Federal Reserve recently released its 2025 Survey of Consumer Finances, the gold standard of wealth data for American households. I've decided to take this data and calculate the average net worth by age so you can get a better handle on how you stack up financially. Of course, we know…
How much growth do higher taxes cost?
In a week, we will get a new budget here in the UK, and of course, everybody is wondering which taxes are going to be hiked and by how much.
Bullish