Quote of the Day
"Successful investing is about making choices that acknowledge uncertainty, not acting as if it can be avoided. "
(Joe Wiggins)
Chart of the Day
It’s hard for the stock market to meaningfully decline if earnings keep going up.
Strategy
- Fund investors should do less, not more. (jeffreyptak.substack.com)
- Why investors should value principles over predictions. (behaviouralinvestment.com)
Crypto
- Crypto continues to search for a use case. (acadian-asset.com)
- Strategy ($MSTR) keeps buying up Bitcoin. (sherwood.news)
Fidelity
- Fidelity continues to grow at a rapid clip. (wsj.com)
- Fidelity controls much of its own distribution. (ft.com)
Wearables
- How Meta ($META) glasses can help the blind. (wsj.com)
- The future of health-focused wearables. (freethink.com)
- How to clean your (disgusting) earbuds. (wired.com)
Regulation
- The destruction of state capacity continues apace. (danieldrezner.substack.com)
- Why Trump will likely take over 'independent' regulatory agencies. (npr.org)
- The Trump administration moves to end congestion pricing in New York City. (politico.com)
- Defunding the FAA will put more people at risk. (fallows.substack.com)
- Why companies no longer heed the NLRB. (nlrbedge.com)
Global
- Germany has an manufacturing problem. (marginalrevolution.com)
- Pulling back on trade will further reduce America's influence on the world. (mrzepczynski.blogspot.com)
- 50 takes about the world including 'NATO, UN, World Bank have flaws, but they are so cheap and global stability so rare historically that they are good.' (marginalrevolution.com)
- Brazil is charging Bolsonaro with plotting a coup. (bbc.com)
- The cat-and-mouse drone war in Ukraine continues unabated. (fastcompany.com)
- How Germany came to be. (unchartedterritories.tomaspueyo.com)
Eggs
- Combating avian flu is expensive (and difficult) for farmers. (msn.com)
- The Egg Clearinghouse is busy these days. (wsj.com)
Economy
- Keep an eye on housing construction. (bonddad.blogspot.com)
- Where unemployment is rising, by metro area. (axios.com)
Earlier on Abnormal Returns
- Personal finance links: nothing left to achieve. (abnormalreturns.com)
- What you missed in our Tuesday linkfest. (abnormalreturns.com)
- Research links: contracting arrangements. (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)
