Strategy

• International stocks are finally having a moment. (morningstar.com)
• On the hunt for 100-baggers. (downtownjoshbrown.com)

Alternatives

• What the big alternative asset managers are saying about Q1. (altgoesmainstream.substack.com)
• Does PE belong in your 401(k) plan? (alphaarchitect.com)

Berkshire Hathaway

• Berkshire Hathaway ($BRK.A) trades like an anti-AI trade. (sherwood.news)
• Greg Abel feels no urgency to spend down Berkshire's ($BRK.A) cash pile. (kingswell.io)

Prediction markets

• Whales are earning profits on prediction markets, minnows not so much. (wsj.com)
• How Kalshi plans to keep children off the platform. (axios.com)

Global

• Ukraine had no plans of becoming a leading exporter of drone technology, but here we are. (newatlas.com)
• On the dangers of pulling troops out of Germany. (thebulwark.com)
• Oil is raining from the sky in parts of Russia. (msn.com)

Economy

• The U.S. has not sidestepped energy market chaos. (ft.com)
• It's the mega caps that are spending big on capex. (apollo.com)
• How worried should we be about national debt now exceeding GDP? (axios.com)

Earlier on Abnormal Returns

• Adviser links: a fool's errand. (abnormalreturns.com)
• Don’t confuse something scarce for a novel asset class. (abnormalreturns.com)
• What you may have missed in our Sunday linkfest. (abnormalreturns.com)
• What everyone was clicking on last week on Abnormal Returns. (abnormalreturns.com)
• Don't miss a thing! Sign up for our daily e-mail newsletter. (abnormalreturns.com)

Mixed media

• Companies can now track your mood at work. (theatlantic.com)
• In praise of walk-and-talk meetings. (permanentequity.com)

Podcasts

• Dave Nadig talks AI and authenticity with Brian Portnoy of Shaping Wealth and Zach Conway of Seeds. (etf.com)
• Ben Carlson talks with Joe Mallen,⁠ CEO of Modelist to discuss how financial advisors can scale their investment process while maintaining control. (youtube.com)
• Barry Ritholtz talks with Lawrence Calcano, Chairman and CEO of iCapital. (ritholtz.com)

Advisortech

• iCapital is working with Claude. (wealthmanagement.com)
• iAltA Holdings has purchased Precept. (citywire.com)
• Will consumers pay a monthly fee to work with an "AI advisor for everyone"? (investmentnews.com)

Advisers

• Why Charles Schwab ($SCHW) is throttling back support for tax-aware long-short accounts. (riabiz.com)
• How some RIAs are dipping their toes into direct venture investing. (barrons.com)
• The number of people sitting for CFP exams highs an all-time high. (thinkadvisor.com)
• How to write a job description for early career advisers. (kitces.com)
• What services daily money managers provide to elderly clients. (advisorperspectives.com)
• Are you a financial advisor? Every Friday we send a (free) advisor-focused newsletter. (newsletter.abnormalreturns.com)
• Concentrated stock: sell or exchange fund? (kitces.com)

Markets

• Tech stocks are outrunning their earnings. (chartkidmatt.com)
• The AI trade is booming, so is degneracy. (howardlindzon.com)
• Are markets complacent about cybersecurity risks? (tker.co)

ETFs

• On the risks of autocallable ETFs. (wsj.com)
• The more Wall Street is selling something, the faster you should run away. (humbledollar.com)
• The fight over mega-IPO index inclusion is a reminder there is no such thing as 'passive' investing. (wsj.com)

Retirement plans

• Expanding access to retirement plans is a good thing. (semafor.com)
• The case against alternatives in 401(k) plans. (institutionalinvestor.com)

Companies

• The megacap companies shouldn't be able to grow as fast as they are. (gettheleverage.com)
• Apple ($AAPL) is actually reducing capex. (sherwood.news)
• Everybody wants to build THE super-app. (spyglass.org)
• Elon loves related party transactions. (sherwood.news)

Berkshire Hathaway

• Berkshire Hathaway ($BRK.A) now holds nearly $400 billion in cash equivalents. (fortune.com)
• Don't hold your breath waiting for a Berkshire Hathaway ($BRK.A) breakup. (cnbc.com)
• Berkshire Hathaway's ($BRK.A) website is old school. Shareholders like it that way. (wsj.com)
• How Greg Abel did in charge of his first annual shareholder meeting. (barrons.com)
• Greg Abel is preaching patience. (ft.com)

The DOJ

• Experienced lawyers are fleeing the DOJ. (newrepublic.com)
• Hard to believe, but the DOJ is cutting even more legal corners. (theatlantic.com)

Voting

• Despite the actions of elected officials, voters don't like gerrymandering. (theconversation.com)
• On the effective end of the Voting Rights Act. (theatlantic.com)

Fiscal policy

• The American tax base continues to shrink, as exemptions and carveouts expand. (theatlantic.com)
• Want to fix the structural deficit? Start with Social Security. (crr.bc.edu)

Spending

• Programs to reduce violent crime seem to have worked. Their funding is in peril. (nytimes.com)
• A look at how much the DHS spends on domestic surveillance. (wsj.com)
• How cuts to PEPFAR are showing up in parts of Zambia. (nytimes.com)

Iran

• How long can Trump sit on his hands in Iran? (danieldrezner.substack.com)
• Iran nor the U.S. think they have lost the war. (theatlantic.com)

The Fed

• Why a change in leadership at the Fed matters less than you think. (ritholtz.com)
• Why Jerome Powell felt compelled to stay on at the Federal Reserve. (wsj.com)

Economy

• When, or if, higher oil (and gasoline) prices will affect the economy? (awealthofcommonsense.com)
• Where AI is spurring business formation. (apollo.com)
• Five lessons from "Planet Money: A Guide to the Economic Forces That Shape Your Life" by Alex Mayyasi. (nextbigideaclub.com)
• The economic schedule for the coming week. (economicweekly.substack.com)

Earlier on Abnormal Returns

• What everyone clicked on this week on Abnormal Returns. (abnormalreturns.com)
• What you missed in our Saturday linkfest. (abnormalreturns.com)
• Life is existential uncertainty. Make sure you enjoy it while you can. (abnormalreturns.com)
• Don't miss a thing! Sign up for our daily e-mail newsletter. (abnormalreturns.com)

Mixed media

• Chinese society has not sidestepped the problems of modernity. (theatlantic.com)
• Press freedom is falling around the world, especially in the U.S. (rsf.org)

Also on the site

• Life is existential uncertainty. Make sure you enjoy it while you can. (abnormalreturns.com)
• Don't miss a thing! Sign up for our daily e-mail newsletter. (newsletter.abnormalreturns.com)
• Are you a financial advisor? Every Friday we send a (free) advisor-focused newsletter. (newsletter.abnormalreturns.com)

Top clicks this week

1. Why doomsayers are wrong more often than not. (awealthofcommonsense.com)
2. Why the promise of emerging markets has fallen short. (morningstar.com)
3. The stock market serves to confuse you. (awealthofcommonsense.com)
4. Good luck trying to find a semi-liquid private equity fund that will outperform over the long run. (morningstar.com)
5. How major asset classes performed in April 2026. (capitalspectator.com)
6. Investors are swapping their private BDCs for public BDCs. (wsj.com)
7. How Treasury rates have risen since the onset of the Iran war. (capitalspectator.com)
8. The private equity industry has changed a lot over the years. (investmentecosystem.com)
9. How to take full advantage of your Apple ($AAPL) Watch. (pogueman.substack.com)
10. Small caps are leading YTD. (stockmarketmedia.com)

Speeding

• New York is exploring ways to limit the damage done by frequent speeders. (msn.com)
• This NYC cop racked up 187 camera-issued tickets in 2025 alone. (nyc.streetsblog.org)

EVs

• A look at how EV range is getting better over time. (nytimes.com)
• Chinese EVs are making their way into Mexico. (wsj.com)
• How cold (and heat) affect EV range. (npr.org)

Autos

• Driverless cars give cities a chance to reset expectations. (ft.com)
• As cars become more like tech products, the issue of software upgrades becomes crucial. (axios.com)
• Hertz ($HTZ) is going to service cars for Uber's ($UBER) robo-taxi service. (techcrunch.com)
• What happens when you remove the rear window and replace it with a camera. (wsj.com)
• Why people are lining up at Costco ($COST) for gasoline. (lefsetz.com)

Energy

• Renewable energy is growing fast: supply and demand works! (ritholtz.com)
• The many ways in which the American electricity grid is wanting. (nytimes.com)
• How the developing world is driving the energy transition. (motherjones.com)
• What's in the price of a gallon of gasoline? (theconversation.com)

Drought

• A big swath of the U.S. is dry and ready to burn. (axios.com)
• Oregon needs more money to fight fires. (hcn.org)

Environment

• The EPA now serves the purposes of corporate polluters. (newyorker.com)
• Independent scientific research at the EPA is effectively finished. (nytimes.com)
• When it comes to forecasting the weather, more data is better. (theconversation.com)
• Smog in Phoenix and Salt Lake City isn't due to Asia. (sej.org)
• Where home insurance rates are heading higher. (wsj.com)

Travel

• United's ($UAL) bet on premium seating has paid off. (wsj.com)
• Major airlines are facing a shortage of aircraft-maintenance technicians. (wsj.com)
• A good use for humanoid robots: unloading baggage. (newatlas.com)
• Spirit Airlines is done. (nbcnews.com)

Space

• The potential for war is real in space. (ig.ft.com)
• Why are Artemis II pictures on Flickr? (anildash.com)

Apple

• Looking forward to what new Apple ($AAPL) CEO John Ternus can hope to accomplish. (spyglass.org)
• Hardware and software are just different. (daringfireball.net)

AI

• How Thumbtack is using AI to its advantage. (fastcompany.com)
• Charlie Warzel talks with Max Spero of Panagram about the use of AI detection tools. (theatlantic.com)
• Can AI-created work be copyrighted? (theatlantic.com)

Behavior

• Ego depletion is real. (unsafescience.substack.com)
• How addiction can change the brain, for years. (knowablemagazine.org)
• Psychedelics may very well have real therapeutic benefits. Declaring it so without research isn't the way forward. (thebulwark.com)
• Five insights from Piera Gelardi's new book, "The Playful Way: Creativity, Connection, and Joy Through Everyday Moments of Play." (nextbigideaclub.com)
• Joy Lere, "Knee-jerk apologies are emotionally dishonest." (joylere.substack.com)
• Some research into the use of AI therapists. (marginalrevolution.com)

The ACA

• The declines in ACA enrollment are real and substantial. (healthpolicyohio.org)
• Cigna ($CI) has quit the ACA marketplace. (wsj.com)

Colon cancer

• How does the microbiome affect increasing colon cancer rates? (npr.org)
• We need better, more open, discussions around colon cancer screening. (npr.org)

Respiratory illness

• The military is the perfect place for respiratory viruses to spread. (theconversation.com)
• Where Covid stands today. (statnews.com)

Fitness

• On the downside of oversharing your fitness routine. (whyisthisinteresting.substack.com)
• Spotify ($SPOT) has teamed with Peloton ($PTON). (engadget.com)

Drink

• Higher alcohol prices are causing adults to 'pre-game.' (wsj.com)
• How Scotch whiskey got a Trump tariff reprieve. (politico.com)

USDA

• The food safety system is imperfect, but increasingly at risk. (motherjones.com)
• Another sign that farmers no longer trust the USDA. (agupdate.com)

Food

• Why food today has less nutritional value. (wapo.st)
• Lessons learned from 400 diet books. (twopct.com)
• The chicken thigh hype has gone overboard. (slate.com)
• Mushroom production is shifting from the U.S. to Canada. (sftw.substack.com)
• Beans are going upscale. (msn.com)

Media

• Letterboxd is for sale. (semafor.com)
• AI slop has come for podcasting. (bloomberg.com)
• How the 'Fast and Furious' movies tell the story of Hollywood. (newyorker.com)

Sports gambling

• Sports gambling and prediction market companies are fighting over who is the worst actor. (nytimes.com)
• Why you won't find Kentucky Derby offerings on prediction markets. (cnbc.com)
• Warren Buffett hates sports gambling. (frontofficesports.com)

Tennis

• Why college tennis programs are disappearing. (frontofficesports.com)
• A sign that tennis strategy has made for a more boring game. (bigthink.com)

Sports

• Sabastian Sawe's marathon record is stunning. (readtrung.com)
• Pickleball Inc. raised $225 million in new investment. (cnbc.com)
• A Q&A with Golden State Warriors coach Steve Kerr. (newyorker.com)

Parenting

• American fathers are spending more time with their children. (derekthompson.org)
• Sean Illing talks with Derek Thompson about lessons learned from parenting. (podcasts.apple.com)

Children

• A look at teacher pay data. (npr.org)
• How phones crushed teenage pregnancy. (marginalrevolution.com)
• The child care crisis is only getting worse. (theatlantic.com)
• When you reduce children screen time, they read more books. (fortune.com)

Earlier on Abnormal Returns

• What you missed in our Friday linkfest. (abnormalreturns.com)
• Life is existential uncertainty. Make sure you enjoy it while you can. (abnormalreturns.com)
• Don't miss a thing! Sign up for our daily e-mail newsletter. (abnormalreturns.com)

Mixed media

• How single-minded pursuit pushes the world forward, albeit at a high personal cost. (davidnroberts.com)
• Following the news these days is enervating. (kottke.org)
• Free speech hypocrisy is out in full force. (thebulwark.com)

April 2026

• The S&P 500 returned 10.49% in April 2026. (on.spdji.com)
• How major asset classes performed in April. (capitalspectator.com)

Markets

• Marc Rubenstein, "Arbitrage is a broad term and it’s often misused." (netinterest.co)
• Lessons learned from the semiconductor stock melt up. (scheplick.com)
• There are still opportunities to dig around in microcaps. (microcapclub.com)
• Investing success depends on path dependency. (rockandturner.substack.com)

Prediction markets

• The Senate has banned Senators and their staff from trading on prediction markets. (politico.com)
• Clear Street is teaming up with Kalshi to give its hedge fund clients access. (bloomberg.com)

SpaceX

• A lot of people think they own SpaceX shares. Some will be disabused. (nytimes.com)
• S&P is ready to cave to the coming mega IPOs to make for earlier index entry. (msn.com)
• Blue Owl funds sold half their SpaceX stake at a $1.25 billion valuation. (reuters.com)

AI

• Cloud businesses saw soaring revenue in Q1. (tomtunguz.com)
• Apple ($AAPL) is sidestepping the AI capex boom. (spyglass.org)
• The surge in hyperscaler capex spending is stunning. (om.co)
• How Anthropic is using Datadog ($DDOG) services. (hntrbrk.com)
• AI bubble talk is falling by the wayside as usage ramps up. (theatlantic.com)

Crypto

• Olga Kharif, "What is unfolding has no precedent in American financial life. A sitting president’s family holds financial stakes in a live token project — one setting governance rules, directing treasury sales, collecting proceeds — while the people who signed up find themselves with limited options to exit." (bloomberg.com)
• A company affiliated with Trump's sons is buying a tungsten mine in Kazakhstan. (ft.com)
• What's going on with Alt5 Sigma Corp. ($AIFC)? (futurism.com)

QSR

• How Casey's General Stores ($CASY) became a huge winner. (freedomdaysolutions.com)
• Subway's store count has fallen for ten straight years. (qsrmagazine.com)
• Dirty soda is showing up everywhere these days. (axios.com)

Economy

• Weekly initial jobless claims continue to confound. (bonddad.blogspot.com)
• Some signs of worry for the economy. (econbrowser.com)
• How higher gasoline prices are affecting consumers. (axios.com)

Earlier on Abnormal Returns

• What you missed in our Thursday linkfest. (abnormalreturns.com)
• Longform links: intertwined fates. (abnormalreturns.com)
• Life is existential uncertainty. Make sure you enjoy it while you can. (abnormalreturns.com)
• Don't miss a thing! Sign up for our daily e-mail newsletter. (abnormalreturns.com)

Mixed media

• The Kentucky Derby is bigger than ever, but locals feel let down by Churchill Downs ($CHDN). (nytimes.com)
• A look at what predicts Kentucky Derby success. (neilpaine.substack.com)
• Horse racing is turning to influencers. (wsj.com)

Markets

• How Treasury rates have risen since the onset of war. (capitalspectator.com)
• Oil prices are at their highest level since the beginning of the Iran war. (axios.com)
• How gas prices are moving in response. (sherwood.news)

Strategy

• The economy is not the stock market, and vice versa. (edgyoptimist.substack.com)
• Jon, "A diversified portfolio, in its simplest form, creates multiple ways to grow your money while building in survivability from market downturns." (novelinvestor.com)

IPOs

• Four scenarios for the SpaceX IPO. (acadian-asset.com)
• SoftBank is planning to list in the U.S. an AI and robotics company called Roze. (ft.com)

Trading

• Indian HFT Graviton Research Capital wants to go global. (bloomberg.com)
• Citadel Securities is big in European bond trading. (ft.com)
• Military action bets on Polymarket have a different payoff profile. (arstechnica.com)

Fund management

• Why you should avoid the most volatile funds. (morningstar.com)
• Closed-end funds always face a challenge from investors. (pitchbook.com)

VC

• Patrick O'Shaughnessy talks health care investing with Alex Karnal, founder of Braidwell. (youtube.com)
• Tim Ferriss talks with Elad Gil about the state of venture investing today. (tim.blog)

Economy

• How AI will affect the economy. (morningstar.com)
• U.S. national debt has topped 100% of GDP for the first time since 1946. (wsj.com)

Earlier on Abnormal Returns

• Longform links: intertwined fates. (abnormalreturns.com)
• What you missed in our Wednesday linkfest. (abnormalreturns.com)
• Personal finance links: the full cost of college. (abnormalreturns.com)
• Life is existential uncertainty. Make sure you enjoy it while you can. (abnormalreturns.com)
• Don't miss a thing! Sign up for our daily e-mail newsletter. (abnormalreturns.com)

Mixed media

• How Bloomberg is bringing AI to the Terminal. (wired.com)
• Local competition is coming for the Washington Post. (wsj.com)
• The Ankler is leaving Substack. (axios.com)

Construction

• "Abundance" co-authors Ezra Klein and Derek Thompson talk with “Why Nothing Works” author Marc Dunkelman about the state of the abundance agenda. (podcasts.apple.com)
• Construction costs move in one direction: up. (construction-physics.com)
• Jim O'Shaughnessy talks with Brian Potter about what prevents the U.S. from building more, cheaper housing. (infiniteloopspodcast.com)

Global

• Why countries are wary of becoming too dependent on American energy. (ig.ft.com)
• How Péter Magyar toppled Viktor Orban. (thebulwark.com)

Technology

• We are still living with the potential for cyberattacks affecting infrastructure. (newyorker.com)
• There is no modern chip making without these ASML lithography machines. (worksinprogress.co)
• A profile of Dwarkesh Patel who talks with tech industry luminaries. (nytimes.com)
• On the trauma of losing a hard drive filled with digital stuff. (newyorker.com)

Longreads

• Scott Santens, "Angine de Poitrine and Einstein are what we get when people are free to do what they truly want." (scottsantens.com)
• Pardons are easy to get these days. All you need is money. (newyorker.com)
• The pandemic wrecked American happiness. (derekthompson.org)
• It took Nike ($NKE) decades to build an impenetrable moat. It took a few years to tear it down. (towardevergreen.com)
• Benches are disappearing from public spaces. (placesjournal.org)
• The life of an elite chess grand master is lonely and stressful. (thewalrus.ca)
• An oral history of The Harvard Lampoon. (wapo.st)

Strategy

• Why doomsayers are more wrong than not. (awealthofcommonsense.com)
• Why the promise of emerging markets has fallen short. (morningstar.com)
• Small traders on Polymarkets are net-net money losers. (bloomberg.com)

Companies

• The audio business needs to consolidate. (axios.com)
• Some real doozies from this year's round of proxies. (ft.com)
• The elevator business is consolidating. (cnbc.com)

AI

• Bright Simons, "The AI industry is telling a story about the future of work that goes roughly like this: automate what can be automated, augment what remains, and trust that the productivity gains will compound into a wealthier, more efficient world." (theideasletter.org)
• Google and Meta are using AI to drive their advertising businesses to new heights. (nytimes.com)
• AI companies are pushing hard to build data centers. Opponents are trying to slow things down. (arstechnica.com)
• AI resentment is growing. (axios.com)

Health

• How Amazon ($AMZN) really wants you to be your pharmacy. (sherwood.news)
• Europe has authorized for use Moderna's ($MRNA) combination flu-Covid vaccine. (arstechnica.com)
• Eli Lilly ($LLY) is buying another startup, Ajax Therapeutics. (biopharmadive.com)

Defense

• What lessons Europe can learn from Ukraine. (wapo.st)
• How is the U.S. running low on munitions? (theconversation.com)
• Germany's defense sending is set to surge. (ft.com)
• Killer robots are already here. (theconversation.com)

Economy

• Why isn't a weak housing market more of a drag on the economy? (bonddad.blogspot.com)
• Amy Arnott and Ben Johnson talk the Fed and more with Claudia Sahm. (morningstar.com)
• Lower capital gains taxes aren't going to do anything for affordability. (fa-mag.com)

Earlier on Abnormal Returns

• Personal finance links: the full cost of college. (abnormalreturns.com)
• What you missed in our Tuesday linkfest. (abnormalreturns.com)
• Research links: data exploration. (abnormalreturns.com)
• Life is existential uncertainty. Make sure you enjoy it while you can. (abnormalreturns.com)
• Don't miss a thing! Sign up for our daily e-mail newsletter. (abnormalreturns.com)

Mixed media

• How to write better: 'Talk like a human.' (bakadesuyo.com)
• Lessons learned from 500 blog posts. (ofdollarsanddata.com)
• AI is going to kill online anonymity. (flowingdata.com)

Podcasts

• Todd Wenning talks money in your 40s with Morgan Housel, author of "The Art of Spending." (flyoverstocks.com)
• Frazer Rice talks with Rick Ferri about bringing simplicity back to investing. (youtube.com)
• An interview with Bill Perkins, author of "Die With Zero." (wsj.com)

Retirement

• There is no guarantee you will be able to keep working later in life. (cnbc.com)
• People often don't retire because they are afraid of losing recognition. (tonyisola.com)
• Retiring at 55 increases the challenge of financial planning. (awealthofcommonsense.com)
• Why 1968 was a bad year to retire. (barrons.com)

Family

• Higher costs are causing couples to pause on having a baby. (nytimes.com)
• Having a baby often requires some intensive financial planning. (morningstar.com)

Personal finance

• We are all closer to becoming homeless than billionaires. (yourbrainonmoney.substack.com)
• How a step-up in basis works in practice. (moneychangeseverything.substack.com)
• Five things to do with a tax refund. (morningstar.com)
• Life is existential uncertainty. Make sure you enjoy it while you can. (abnormalreturns.com)
• Your values will shift over time. (meaningfulmoney.life)

Markets

• Why poor consumer confidence shouldn't deter you from investing. (trendlabs.com)
• Small caps are leading YTD. (stockmarketmedia.com)

Private assets

• Good luck trying to find a semi-liquid private equity fund that will outperform over the long run. (morningstar.com)
• It's easy to forget that private equity will feel the pain before private credit in a generalized downturn. (mailchi.mp)
• Just how accurate are private equity marks? (hntrbrk.com)

Companies

• CEOs see an window to do merger deals that would never have gone through before. (semafor.com)
• Reddit ($RDDT) is at the mercy of search, AI and advertisers. (ft.com)

OpenAI

• Missed projections and big outlays are putting pressure on OpenAI leadership. (futurism.com)
• Is the unwinding of the OpenAI-Microsoft ($MSFT) deal going to help? (spyglass.org)
• Why OpenAI pivoted to an Anthropic-like business model. (theatlantic.com)

Work

• Jim Pethokoukis talks work and AI with Prof. Daniel Rock. (fasterplease.substack.com)
• Is California's job situation an omen for the rest of the country? (bloomberg.com)
• Michael Easter talks with Dr. Mim Ari and Robin Greenfield about finding joy in any job. (twopct.com)

Oil

• The UAE is quitting OPEC. (sherwood.news)
• What would it take to get Gulf oil flowing again? (ft.com)
• The longer the Strait of Hormuz is closed, the more the damage. (paulkrugman.substack.com)
• How long can Iran's oil industry hold out? (axios.com)
• How to demine the Strait of Hormuz. (ft.com)

Europe

• Europe is coming to terms with an even longer war in Ukraine. (nytimes.com)
• Orban's business associates are already adapting. (ft.com)
• If nothing else, Russia is adept at producing disinformation. (bloomberg.com)

The Fed

• Kevin Warsh is facing some tough inflation data. (capitalspectator.com)
• Despite what has been said, investigations into the Fed are not over. (stayathomemacro.substack.com)

Housing

• Per Case-Shiller, national home prices rose 0.7% in the past year through February. (calculatedrisk.substack.com)
• You can't blame shelter costs for higher inflation. (bonddad.blogspot.com)
• Bills restricting build-to-rent are already crimping home construction. (wsj.com)

Earlier on Abnormal Returns

• Research links: data exploration. (abnormalreturns.com)
• What you missed in our Monday linkfest. (abnormalreturns.com)
• Adviser links: controlling the controllable. (abnormalreturns.com)
• Life is existential uncertainty. Make sure you enjoy it while you can. (abnormalreturns.com)
• Don't miss a thing! Sign up for our daily e-mail newsletter. (abnormalreturns.com)

Mixed media

• Alex Hutchinson, "All told, Sawe’s breakthrough—the head-to-head throwdown, the drug-testing program, the dramatic finale—was exactly how you’d script an all-time performance." (theatlantic.com)
• How big a role did shoes play in the new marathon world record? (sherwood.news)
• On the myth of the psychological barrier in sports. (scienceofrunning.com)

Round-ups

• A round-up of recent research on prediciton markets including 'How Wise is the Crowd? Bias and Edge in Prediction Markets.' (capitalspectator.com)
• A round-up of recent academic research including 'Getting the Target Right in Return Prediction.' (alphainacademia.substack.com)

AI

• Are LLMs making markets more efficient? Apparently... (mrzepczynski.blogspot.com)
• What areas of the country are most at risk to AI disruption? (jakeprokopets.substack.com)
• On the dangers of turning too much over to AI models. (rpc.cfainstitute.org)

Work

• Why CEOs are getting older. (papers.ssrn.com)
• How picking an occupation in decline affects lifetime earnings. (papers.ssrn.com)
• How employees track their own company's financial performance. (papers.ssrn.com)

Research

• Revisiting momentum strategies that drop the last month of performance. (alphaarchitect.com)
• When properly measured, news really does matter for stocks. (papers.ssrn.com)
• What happens when companies get added to the S&P 500. (morningstar.com)
• How the bond market has changed managed futures performance. (rcmalternatives.com)
• How optimal trade execution is changing. (rpc.cfainstitute.org)
• Meb Faber talks all things dividends with Samuel Hartzmark, a finance professor at Boston College. (podcasts.apple.com)
• On the paradox of democratizing private assets. (papers.ssrn.com)

Finance

• Investors are swapping their private BDCs for public BDCs. (wsj.com)
• The private equity industry has changed a lot over the years. (investmentecosystem.com)
• Amazon-backed X-Energy ($XE) is now public. (pitchbook.com)

Layoffs

• Big Tech is using layoffs to afford more AI. (wsj.com)
• A look at this year's big corporate layoffs, so far. (wsj.com)

Apple

• Apple ($AAPL) is on track to be the biggest phone seller in China. (sherwood.news)
• Apple ($AAPL) Macs are the only PCs made for AI. (om.co)
• How to take full advantage of your Apple ($AAPL) Watch. (pogueman.substack.com)

AI

• The AI data center backlash is growing. (nytimes.com)
• Your Slacks and e-mails are being used to train AI. (futurism.com)
• Could AI companies get nationalized? (theatlantic.com)

Economy

• Companies are saying consumers are in good shape. (thetranscript.substack.com)
• The rest of the world is disproportionately feeling the pain of the Iran war. (nytimes.com)
• Why the choice of inflation measure matters for policy. (newsletter.mikekonczal.com)

Earlier on Abnormal Returns

• Adviser links: controlling the controllable. (abnormalreturns.com)
• Life is existential uncertainty. Make sure you enjoy it while you can. (abnormalreturns.com)
• What you missed in our Sunday linkfest. (abnormalreturns.com)
• What everyone clicked on last week on Abnormal Returns. (abnormalreturns.com)
• Don't miss a thing! Sign up for our daily e-mail newsletter. (abnormalreturns.com)

Mixed media

• Are the super-rich turning away from the art market? (wsj.com)
• Josh Kushner's Thrive Eternal just bought a stake in the San Francisco Giants. (axios.com)
• High Pokemon card prices are driving a surge in crime. (cnn.com)

Podcasts

• Ben Johnson talks with Michael Gates, Blackrock's head of model portfolio solutions for the Americas. (morningstar.com)
• Josh Brown talks with Louis Diamond, CEO of Diamond Consultants, to break down the surge in advisor movement. (youtube.com)
• Michael Kitces talks with Lisa Crafford who is the head of advisory of Constellation Wealth Capital. (kitces.com)
• Brendan Frazier on how to better design your time to help grow your practice. (podcasts.apple.com)

Education

• Ric Edelman will serve as founding head of Rowan University's new School of Financial Planning. (thinkadvisor.com)
• The CFP Board is raising revenue in a number of ways. (riabiz.com)

Advisers

• How to build career growth plans for associate advisers. (kitces.com)
• The standard for selecting alternative managers is just higher. (citywire.com)
• The popularity of tax-aware strategies is booming. (awealthofcommonsense.com)
• Why clients fail to follow through. (kitces.com)
• More solo-agers require support as they age. (marketwatch.com)
• The 1983 revamp of Social Security worked. A fix is now increasingly urgent. (crr.bc.edu)
• Are you a financial advisor? Every Friday we send a (free) advisor-focused newsletter. (newsletter.abnormalreturns.com)
• Life is existential uncertainty. Make sure you enjoy it while you can. (abnormalreturns.com)
• Why women get worse financial advice. (klementoninvesting.substack.com)