Quote of the Day
"In a stock market that often falls but usually goes up, the odds that your portfolio is in the money — even in the midst of a bear market — improve as you extend your time horizon."
(Sam Ro)
Chart of the Day
What if what we are seeing is a normalization of interest rates?
Strategy
- Investors under the age of 40 have not really experienced a drawn out bear market. (blairbellecurve.com)
- Long term investors probably fear bear markets too much. (tker.co)
- When, not if, bonds matter. (humbledollar.com)
Companies
- Special executive payouts are becoming more commonplace. (wsj.com)
- The Ellison cinematic universe has a lot of different debt outstanding. (ft.com)
Alternatives
- What the SEC is proposing on performance fees and interval funds. (morningstar.com)
- Democratizing alternative investments makes sense in theory, less in practice. (wsj.com)
Finance
- Tokenization is booming. (tomtunguz.com)
- The DTCC is investing in iCapital. (wealthmanagement.com)
- What it would take for a futures market in compute to work. (ft.com)
Law and order
- Government lawyers are being faced with tough decisions. (newyorker.com)
- Some local police agencies have cleaned up working for ICE. (wsj.com)
Spending
- How much does the Department of Defense actually spend? (motherjones.com)
- Why did Krisi Noem buy a bunch of jets for DHS walking out the door? (nytimes.com)
- The National Science Foundation has withheld nearly 20% of grants this year. (nytimes.com)
- The DHS paid for Trump campaign ads. (politico.com)
Immigration
- Why the administration hasn't cancelled TPS status for Salvadorans. (newyorker.com)
- An economic look at the Biden era immigration surge. (axios.com)
Washington DC
- How Trump is remaking Washington DC. (msn.com)
- Michael Lewis on the damage DOGE wrought. (slate.com)
- The Kennedy Center was solvent when Trump came into office. (msn.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)
Russia
- How Russia is using migrants as a weapon against European nations. (nytimes.com)
- How Ukraine has advanced ground robots to retake territory. (cnbc.com)
- How the Baltics are preparing for a war with Russia. (theatlantic.com)
Economy
- Why is consumer sentiment so in the dumps? (awealthofcommonsense.com)
- Healthcare is still driving employment overall. (newsletter.platypuseconomics.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)
