The Shareholders’ Cut

Published on November 26, 2025

Investors are needy. Insatiable, really. But it makes sense: If an investor buys a share of a company, they’re going to want some benefit from it.

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Kalshi Is Taking Aim at Stock Exchanges. Why Not?

November 26, 2025
Kalshi Inc.’s Chief Executive Officer Tarek Mansour got my attention when he claimed last week that prediction markets could rival stock exchanges in a few years. Of course, this does not mean that people will buy and sell stocks on Kalshi, but that prediction markets will be where information is aggregated and prices set, with the New York Stock Exchange and its ilk relegated to processing orders

Market Bubbles: A Rational Guide To An Irrational Market

November 26, 2025
This article explores the nature of market bubbles and provides a framework for investors to navigate the AI sector's current, highly-charged environment.