Quote of the Day
"Tariffs do raise revenue for the government but they do so at great cost."
(Ben Ramanauskas)
Chart of the Day
It’s not a failure when STEM majors work in non-STEM fields.
Markets
- Can corporate profit margins keep going up? (tker.co)
- AI is moving faster than the markets can keep up. (disciplinefunds.com)
- Your risk profile isn't static. (awealthofcommonsense.com)
Crypto
- Pump.fun keeps pumping. (theblock.co)
- The many ways Trump can profit from his presidency, not just crypto. (motherjones.com)
Finance
- Blackrock ($BLK) and the FDIC are at loggerheads. (riabiz.com)
- PE-backed company bankruptcies are ticking higher. (ft.com)
- On the brutal math of a venture capital-backed company. (techcrunch.com)
Elon
- Banks are looking to off-load X loans. (wsj.com)
- Why does Elon Musk claim he is a world class gamer? (nytimes.com)
- Some sub-Reddits are banning links to X. (engadget.com)
Immigration
- How high-skilled immigration helps the economy as a whole. (agglomerations.substack.com)
- An immigration crackdown could hit the construction industry in particular. (axios.com)
- Foreign masters' students play a big role in U.S. startups. (papers.ssrn.com)
- Deportations were higher under the Biden administration than the first Trump administration. (nytimes.com)
Health
- Scientific communication is in chaos. (npr.org)
- Pausing NIH grants has a lot of downstream effects. (theatlantic.com)
- How the halt of PEPFAR could put people at risk. (npr.org)
- God forbid we have another pandemic. (paulkrugman.substack.com)
Policy
- On the high costs of tariffs. (opportunitylost.substack.com)
- The U.S. can reshore certain industries. (noahpinion.blog)
- This Indiana town is awash in ARPA and IRA cash. (wsj.com)
- Fun with numbers: tax burdens and GDP growth. (klementoninvesting.substack.com)
Economy
- Q4 GDP is tracking in the 2.3-3.0% range. (calculatedriskblog.com)
- Signs of strength in the U.S. economy. (apolloacademy.com)
- Egg prices are headed higher. (econbrowser.com)
- The only reason the labor force is growing is net migration. (apolloacademy.com)
- The economic schedule for the coming week. (calculatedriskblog.com)
Earlier on Abnormal Returns
- Top clicks last week on the site. (abnormalreturns.com)
- What you missed in our Saturday links. (abnormalreturns.com)
- You can now follow us on Bluesky. (bsky.app)
- Are you signed up for daily e-mail newsletter? Well, you should. (abnormalreturns.com)
