Counting Inflation, the Stock Market May Have Hit a Peak

Robert Shiller, the Nobel laureate, says valuations adjusted for high inflation suggest stock returns for the next decade are likely to be modest.

The Power Vacuum at the Top of the Crypto Industry

A year ago, Sam Bankman-Fried and Changpeng Zhao ran two of the largest crypto companies. As they grapple with legal woes, others are jockeying to lead the industry’s next chapter.