Quote of the Day
"One of the reasons so many companies are staying private longer is because private market investors overvalued them."
(Ben Carlson)
Markets
- A positive seasonal window is opening. (trendlabs.com)
- Bonds are no longer overvalued. (mrzepczynski.blogspot.com)
Strategy
- Why indexing has dominated the past decade. (awealthofcommonsense.com)
- Why Warren Buffett succeeded: his investment strategy matched structure. (jasonzweig.com)
- How to avoid getting taken in by chart crimes. (contessacapitaladvisors.com)
AI
- All that AI capex will turn into depreciation and amortization one day. (tker.co)
- How to measure recursive self-improvement of models. (noahpinion.blog)
- There's no rush to load an AI agent onto your computer. (daringfireball.net)
Law and order
- How the Trump DOJ has gutted anti-corruption prosecutions. (propublica.org)
- It's easy to forget why we have pension rules against 'pay-for-play.' (popular.info)
- The Trump administration is doing what it can to hamstring the International Criminal Court. (wsj.com)
RFK
- Under RFK Jr. the CDC has been hobbled. (nytimes.com)
- RFK Jr. is making big bucks with his side hustles. (nytimes.com)
- Why does it cost so much to protect RFK Jr.? (wsj.com)
States
- A big chunk of the federal budget is transfers to states. (wapo.st)
- What's behind the property tax freak out? (papers.ssrn.com)
- States lose when they compete over tax incentives. (giftarticle.ft.com)
Stay in touch
- Work in wealth management? Sign up for our exclusive Talking Wealth newsletter. (talkingwealthpod.com)
- Don't miss a thing! Sign up for our daily e-mail newsletter. (abnormalreturns.com)
Government
- Why are there so many vacant roles in the Trump administration? (theatlantic.com)
- What it's like to be a member of Trump's cabinet. (politico.com)
- How Donald Trump broke the Kennedy Center. (nytimes.com)
Economy
- Most non-compete agreements are bogus. (ritholtz.com)
- The economic schedule for the coming week. (economicweekly.substack.com)
Earlier on Abnormal Returns
- Top clicks this week on Abnormal Returns. (abnormalreturns.com)
- What you missed in our Saturday linkfest. (abnormalreturns.com)
