Good Morning! OpenAI is warning employees to watch out for spies, especially ones showing romantic interest. Chip stocks had their longest losing streak since 2006, netting short sellers $32 billion last week. And Citi became the latest US bank to restrict AI agents from accessing accounts.

Anthropic is committing 5% of shares to a new public benefit fund. JPMorgan’s Chicago office renovation is costing the bank more than $800 million. And Carlyle is buying $7.7 billion in consumer loans as Truist revamps its business.

Plus: Bridgehampton allows its first-ever Target but is banning the classic neon sign, Two Sigma halts fundraising for its real estate unit and cuts staff, and how to find meaning in life.

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If you’ve ever thought about quitting to travel on investment income, the standard early-retirement math still applies: 25–30 times annual spending, or $2.5 million-plus for a $100,000/year lifestyle.

A small group of “dividend nomads,” as profiled by Bloomberg, is testing a different approach, pairing lower-cost living abroad with ETFs designed to generate large monthly distributions.

Jae Hyouk Jang, 43, left a security job with ~$130,000 and has been traveling through Thailand, Vietnam, and Laos. He held the YieldMax COIN Option Income Strategy ETF (CONY), which advertised a 58% annual payout rate from selling calls on Coinbase. When Coinbase fell, CONY dropped nearly 40% and its weekly distributions shrank; he later shifted toward broader equity ETFs.

Dave and Mor Vanderhoef, based in Portugal with more than $500,000 overall, keep ~$70,000 in income ETFs, including the JPMorgan Equity Premium Income ETF (JEPI, ~8% yield). Those holdings produce ~$700 a month, covering up to half of their $1,400–$2,000 monthly expenses.

Derivative-income ETFs of this type have grown to more than $270 billion in assets in three years, often with fees of 1% or higher and advertised payout rates in the double or triple digits. Much of the cash comes from option premiums rather than corporate earnings.

The structure can cap upside and provide limited protection in a selloff. Advisers note that many of the higher-yielding products have not yet been tested through a full bear market, so a plan that depends on uninterrupted high payouts is closer to a market bet than a durable withdrawal strategy.

Key takeaway: Living abroad on high-yield “dividend” ETFs is possible for some, but the highest advertised payout rates are volatile and function more like a market bet than a reliable early-retirement income stream. The safest strategy still may be to save 25–30 times your annual spending and park it in US treasuries…

A recent study says advisors spend only 41% of their week on clients and prospects. The rest goes to paperwork, prep, and chasing files. The study also figures that five more client hours a week is worth up to $270,000 a year per advisor. That’s a lot of money sitting in a pile of paperwork.

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Description: Malcolm Gladwell investigates America's persistent gun violence crisis, exploring why the United States experiences far more homicides than comparable wealthy nations. Drawing on original interviews, historical research, and social science, Gladwell examines the cultural, legal, and institutional forces that have shaped America's relationship with lethal violence. Through compelling stories spanning emergency rooms, police departments, courtrooms, and communities affected by shootings, he challenges conventional assumptions about gun control and public safety. Rather than treating violence as a problem with a single cause or simple solution, Gladwell encourages readers to examine the deeper structures that allow it to persist. The book explores how historical precedents, policing strategies, criminal justice policies, and political debates can obscure the underlying causes of violence. Ultimately, Gladwell argues that addressing America's epidemic requires looking beyond familiar political arguments and reconsidering how society understands, prevents, and responds to violence.

Book Length: 304 pages
Release Date: September 29, 2026

Ideal For: Investors, executives, policymakers, and intellectually curious readers interested in American society, behavioral science, public policy, and criminal justice. Particularly valuable for readers who enjoy Malcolm Gladwell's ability to connect historical events, human behavior, and institutional failures to reveal unexpected explanations for complex problems.

To understand a problem that seems impossible to solve, look beyond the obvious explanations and question the assumptions everyone else takes for granted.

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In 1980, political scientist Robert Axelrod invited game theorists to submit programs for a tournament built on the repeated prisoner’s dilemma, where two players choose to cooperate or betray each other over many rounds. The entries came from economists, mathematicians, and computer scientists, and some were elaborate.

The winner was the simplest one, submitted by Anatol Rapoport. It cooperated on the first round, then copied whatever the other player did last. It was called Tit for Tat, and in a second, larger tournament it won again.

Axelrod found the winners shared four traits: never betray first, answer betrayal immediately, forgive quickly, and be easy to read. Clever strategies lost because opponents could not tell what they were doing. In repeated dealings, being clear and fair beats being clever.

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