Podcasts

• Michael Batnick talks with Jon Stein, founder of Warmer, a platform for helping people find the right human financial advisor.. (youtube.com)
• Sean Allocca and John Manganero talk with David Blanchett about big mistakes in retirement planning. (youtube.com)
• Ian Wenik and Alex Steger talk with Morningstar ($MORN) CEO Kunal Kapoor about the evolution of wealth management. (citywire.com)
• Michael Kitces talks with Shannon Eusey who is chairman and co-founder of Beacon Pointe Advisors. (kitces.com)
• Michael Sidgmore talks with Larry Restieri, the CEO of Hightower Advisors. (altgoesmainstream.substack.com)

AI

• How one RIA built custom AI tools for your practice. (kitces.com)
• On the changing role of the adviser in the age of AI. (awealthofcommonsense.com)
• Incumbent firms are building AI into their work flows, and other advisortech news from the past month. (kitces.com)

Investing

• Are clients really clamoring for alts? (thedailyupside.com)
• Don't discount what it takes to do due diligence on private funds. (kitces.com)

Advisers

• A look Acorns business, having raised $510 million in capital over its existence. (riabiz.com)
• Monark Markets looks to take on iCapital and CAIS. (pitchbook.com)
• RIAs increasingly compete against other RIAs. (citywire.com)
• Are younger generations actually biased against their parents' advisers? (ft.com)
• Don't forget to sign up for exclusive, advisor-only weekly Talking Wealth newsletter. (talkingwealthpod.com)
• For many, your client's biggest asset is their human capital. (rpc.cfainstitute.org)

Markets

• We only know about structural breaks in retrospect. (humbledollar.com)
• Stuart Kirk, "The wisdom of crowds has never lain in the consensus. It lies in the disagreement." (ft.com)

Business

• Companies are choosing 'signature scents' for their offices. (ft.com)
• Bezos' big bet on Trump is paying off. (wsj.com)

Regulation

• Laws last longer than executive orders. (thebulwark.com)
• Policy volatility is the consequence of removing independence from independent agencies. (axios.com)

Law and order

• Efforts to identify non-citizen voting have been spectacularly unsuccessful. (indianacapitalchronicle.com)
• Why is the Supreme Court ramping up security spending? (politico.com)

Conflicts of interest

• Trump admits his children receive 'insider tips.' (irishstar.com)
• Trump, himself, earned more from crypto in 2025 than any other crypto firm. (marginalrevolution.com)
• Who made (and lost) money with the TRUMP memecoin. (nytimes.com)
• The trading in Trump's brokerage accounts is off the charts. (wsj.com)

National security

• What happens when you remove experienced military officers, en masse? (justsecurity.org)
• National security officials are apparently still using Signal to communicate. (theatlantic.com)

Foreign policy

• The U.S. is running out of allies that we have not alienated. (danieldrezner.substack.com)
• What principles underlie American foreign policy? (thebulwark.com)

Autocracy

• A look at the world leaders who have become spectacularly rich in office. (giftarticle.ft.com)
• Why autocrats lean toward the same aesthetic. (seeingredasia.substack.com)

Jobs

• How to better measure the effects of AI on employment. (agglomerations.eig.org)
• Why big corporate subsidies rarely live up to the hype, jobs-wise. (boondoggle.substack.com)

Economy

• One year in, a look at how the OBBBA has played out for the budget deficit. (nbcnews.com)
• Who pays credit card interchange fees? (nber.org)
• 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)
• Don't miss a thing! Sign up for our daily e-mail newsletter. (abnormalreturns.com)
• Are you a financial advisor? Sign up for our exclusive Talking Wealth newsletter. (talkingwealthpod.com)

Mixed media

• Like it or not, luck plays a big role in life outcomes. (davidnroberts.com)
• Why weird gets remembered. (essays.highagency.com)

Stay in touch

• Are you a financial advisor? 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)

Top clicks this week

1. Why are investors seemingly holding more cash than usual? (awealthofcommonsense.com)
2. Why long-term investors can't simply ignore (inevitable) bad news. (tker.co)
3. How worried do we need to be about margin debt and leverage? (wsj.com)
4. Why is gold down? Pick your explanation. (ft.com)
5. Howard Lindzon, "The last generation of entrepreneurs wanted to be Zuckerberg, but it sounds a lot easier to make your fortune with leverage and perps than starting a company to compete with the technology giants." (howardlindzon.com)
6. What's behind the popularity of perpetual futures? (johnlothiannews.com)
7. How major asset classes performed in June 2026. (capitalspectator.com)
8. The Yen is at a 40-year low relative to the U.S. dollar. (axios.com)
9. What history tells us about the sustainability of the AI boom. (fa-mag.com)
10. SpaceX ($SPCX) debt trades like junk. (bloomberg.com)

Autos

• Tesla ($TSLA) had a good Q2. (arstechnica.com)
• On the (potential) return of the small pickup. (wsj.com)
• It's not just Buc-ee's. Gas stations are getting bigger. (cnbc.com)
• On the relationship between speed and fuel consumption. (wired.com)

AVs

• Wayve wants to compete with Tesla and Waymo in AV technology. (wsj.com)
• Safety standards around AVs need updating. (axios.com)

Energy

• More Americans are installing home batteries. (arstechnica.com)
• Canada’s Deep Sky became the first North American company to deliver verified carbon removal credits from direct air capture technology. (bnnbloomberg.ca)

Environment

• Fewer weather balloons means less accurate forecasts. (gizmodo.com)
• The U.S. is increasingly at-risk of another Dust Bowl. (bloomberg.com)

Animals

• Why is MAHA so focused on beef in lieu of other proteins? (theatlantic.com)
• Where shark attacks happen along the East Coast. (wsj.com)

Travel

• Tourists have overrun Madrid. (ft.com)
• The credit card lounge wars have spread beyond the airport. (cnbc.com)
• Potential FAA rules make supersonic more likely. (semafor.com)
• Why airplanes are kept cold. (popsci.com)

Data centers

• Why data center operators are focused on Scotland. (bbc.com)
• Data centers seem to have a heat island effect. (theguardian.com)

Technology

• How companies are cutting back on token usage. (tomtunguz.com)
• Can the Brick keep you from doomscrolling? (wsj.com)
• How password managers work. (obliviousinvestor.com)

Behavior

• Why a chatbot isn't a substitute for a therapist. (wsj.com)
• A Q&A with a Ian Bogost author of “The Small Stuff: How to Lead a More Gratifying Life.” (techcrunch.com)
• Five insights from Luke Burgis's new book, "The One and the Ninety-Nine: Forging Identity in the Age of Social Contagion." (nextbigideaclub.com)

GLP-1s

• Medicare now covers GLP-1s. (reuters.com)
• On the effect of GLP-1 use for women in employment and cohabitation. (papers.ssrn.com)

Health

• The US death rate hit its lowest level on record last year due in large part to falling overdose deaths. (semafor.com)
• HPV vaccines work to prevent cervical cancer. Why isn't their use more widespread? (bloomberg.com)
• The writing is on the wall for peptides at the FDA. (arstechnica.com)
• Telehealth is exploding, not necessarily in a good way. (wired.com)
• Philip Morris ($PM) can now advertise Zyn as less harmful than cigarettes. (semafor.com)

Sun exposure

• Five insights from Rowan Jacobsen's "In Defense of Sunlight: The Surprising Science of Sun Exposure." (nextbigideaclub.com)
• Please don't use a tanning bed. (axios.com)

Drink

• Alcohol is unique due to its ubiquity in society. (theconversation.com)
• How the alcohol industry wields political power largely behind the scenes. (statnews.com)
• Why brewers are producing smaller bottles and cans. (wsj.com)

Food

• Egg producers admit to fixing prices. (nypost.com)
• Extreme weather is making potato growing more challenging. (wsj.com)
• On the value of using 100% of the fish. (ft.com)
• Coffee was available in pre-revolution America. (npr.org)
• This pot of broth is 52 years old. (wsj.com)

Music

• Tidal is demonetizing AI-generated music. (engadget.com)
• The best albums of 2026 (so far) including 'You Seem Pretty Sad for a Girl So in Love’ by Olivia Rodrigo. (variety.com)
• Some of the best albums of 2026 (so far) including Noah Kahan's 'The Great Divide.' (npr.org)

Sports

• Flavor Flav is an outspoken advocate for women's sports. (forbes.com)
• Requiring EKGs for high school athletes will cause more problems that it solves. (statnews.com)
• Why 1976 was a pivotal year for American sports. (neilpaine.substack.com)

Children

• Graduation creep is exhausting for parents. (slate.com)
• There is an inevitable consequence to banning transgender athletes. (theconversation.com)
• Children eventually pass judgment on the job their parents did. (davidnroberts.com)

Earlier on Abnormal Returns

• What you missed in our Friday linkfest. (abnormalreturns.com)
• Don't miss a thing! Sign up for our daily e-mail newsletter. (abnormalreturns.com)
• Are you a financial advisor? Sign up for our exclusive Talking Wealth newsletter. (talkingwealthpod.com)

Mixed media

• How the opioid epidemic scrambled local demographics. (papers.ssrn.com)
• What to make of America's falling fertility rate. (wsj.com)
• Shotgun weddings are becoming normalized. (axios.com)

Finance

• Blackstone ($BX) backed Jersey Mike's has filed to go public. (restaurantdive.com)
• The art market is increasingly financialized. (humbledollar.com)

Private credit

• Blue Owl ($OWL) sees continued redemption requests. (finance.yahoo.com)
• Why an ever growing redemption queue at private credit funds is untenable. (pitchbook.com)

Companies

• Even Apple ($AAPL) can't sidestep rising memory prices. (theatlantic.com)
• Kroger ($KR) is buying supermarket chain Giant Eagle. (cnbc.com)
• Lucky Strike ($LUCK) is trying to reinvent bowling. Not everyone is happy about it. (wsj.com)

Media

• A look at The Onion's plan to relaunch InfoWars. (chicago.suntimes.com)
• When suing media organizations becomes an income stream. (newrepublic.com)
• Data on how much the typical newsletter charges. (pressgazette.co.uk)

Russia

• Ukraine can now strike freely within Russia. (axios.com)
• Gas lines are now commonplace throughout Russia. (nytimes.com)
• Russia's race to build a Starlink rival is stuck in neutral. (bloomberg.com)

America

• A deep dive into America in 1926. (derekthompson.org)
• Every 50 years or so American democracy looks tattered. (danieldrezner.substack.com)
• Americans still overwhelmingly believe immigration is a positive. (noahpinion.blog)
• What if the colonies and the crown had reconciled in 1776? (thebulwark.com)

Economy

• What's behind the drop in the labor force participation rate? (employamerica.org)
• There is little sign of a manufacturing renaissance in the jobs data. (newsletter.platypuseconomics.com)
• What happens when labor share of GDP keeps falling? (mrzepczynski.blogspot.com)
• A look at the U.S. economy half way through 2026. (bonddad.blogspot.com)

Earlier on Abnormal Returns

• What you missed in our Thursday linkfest. (abnormalreturns.com)
• Longform links: instant fakes. (abnormalreturns.com)
• Don't miss a thing! Sign up for our daily e-mail newsletter. (abnormalreturns.com)
• Are you a financial advisor or in the wealth management business? Sign up for our exclusive, weekly Talking Wealth newsletter. (talkingwealthpod.com)

Mixed media

• How to ask for help from people you don't know. (pradyuprasad.com)
• Overwork causes a cycle of dependency. (yourbrainonmoney.substack.com)
• The case for travel. (ryanholiday.net)
• Just live your life. (bakadesuyo.com)

Markets

• The Yen is at a 40-year low relative to the U.S. dollar. (axios.com)
• SpaceX ($SPCX) debt trades like junk. (bloomberg.com)

Fund management

• Why there is an overhang on StepStone Group ($STEP) shares. (hntrbrk.com)
• How Micron ($MU) came to make up some 25% of a value ETF. (morningstar.com)

Trading

• Exchange stocks are tumbling. (trendlabs.com)
• Danny Moses talks with Joe Saluzzi, partner and co-founder of Themis Trading, about worsening U.S. market structure. (youtube.com)

Private assets

• Investors keep asking for their money back from private credit vehicles. (wsj.com)
• How semi-liquid private equity funds handle redemptions. (wealthmanagement.com)
• Research into the fragility of semi-liquid private credit funds. (papers.ssrn.com)

Gambling

• The World Cup is a boon to prediction market volume. (theblock.co)
• Is ripping digital card packs the new gambling? (wired.com)
• Five insights from David Bockino's new book, "Over/Under: An Unexpected History of Sports Betting." (nextbigideaclub.com)

Conflicts of interest

• The Trump administration says there is no conflict of interest involved with the President's crypto activities. (citationneeded.news)
• Investors in Trump-backed tokens are largely underwater. (wsj.com)
• Trump structured crypto deals so that he couldn't really lose. (nytimes.com)

Russia

• Russia's go-to move is to bomb Kyiv. (semafor.com)
• The human costs of the war in Ukraine are ballooning. (csis.org)
• Ukraine has put a spotlight on the limits of Putin's power. (theatlantic.com)
• It's getting harder for Putin to hide the cracks in his regime. (thebulwark.com)

Economy

• The June NFP report was a mixed bag. (bonddad.blogspot.com)
• The labor force shrunk in June. (axios.com)
• Growth in payroll taxes is approaching 0%. (macro.disciplinefunds.com)

Earlier on Abnormal Returns

• Longform links: instant fakes. (abnormalreturns.com)
• What you missed in our Wednesday linkfest. (abnormalreturns.com)
• Personal finance links: playing status games. (abnormalreturns.com)
• Don't miss a thing! Sign up for our daily e-mail newsletter. (abnormalreturns.com)
• Are you a financial advisor or in the wealth management business? Sign up for our exclusive, weekly Talking Wealth newsletter. (talkingwealthpod.com)

Mixed media

• Americans continue to relocate to the South. (bloomberg.com)
• Did you know there was once a Swedish colony in America? (bbc.com)
• How many people have ever lived in the United States? (danielfetz.io)

Books

• Mary Childs talks with Liaquat Ahamed, author of "1873: The Rothschilds, the First Great Depression, and the Making of the Modern World." (youtube.com)
• Five insights from Michael Pollack's new book, "Sidewalk Nation: The Life and Law of America’s Most Overlooked Resource." (nextbigideaclub.com)
• An excerpt from "The World: A Family History of Humanity," by Simon Sebag. (theatlantic.com)
• An excerpt from "Consciousness: Confessions of a Romantic Reductionist" by Christof Koch. (thereader.mitpress.mit.edu)
• David Epstein talks with Austin Kleon, author of "Don’t Call It Art: 10 Ways to Create Like a Kid Again." (davidepstein.substack.com)

Technology

• Just how close are we to getting humanoid robots? (newyorker.com)
• Why we need to distinguish between people and bots online. (noemamag.com)
• Inventing the bar code was straightforward. Implementing was a lot harder. (quartr.com)
• Spinning up fake websites, and the like, is now trivial and can easily trip up Google. (propublica.org)

Defense

• Why a tungsten mine is reopening in Australia. (bloomberg.com)
• JP Morgan ($JPM) wants to be a defense industry player. (wsj.com)

Crime and punishment

• How Scotland successfully targeted high levels of violence. (bbc.com)
• The state of Florida is executing prisoners at a rapid rate. (propublica.org)

Science

• How our understanding of continental drift came to be. (worksinprogress.co)
• Five insights from Ijeoma Uchegbu's new book, "Chain Reaction: How Chemistry Shapes Us and Our World." (nextbigideaclub.com)

Nature

• Lone star ticks, which causes alpha-gal syndrome, sound like a nightmare. (newyorker.com)
• Can humans and crows have a relationship? (audubon.org)

June 2026

• The S&P 500 fell 0.95% in June 2026. The Smallcap 600 was up 7.29%. (on.spdji.com)
• How major asset classes performed in June 2026. (capitalspectator.com)
• Technology stocks now make up a record share of the S&P 500. (morningstar.com)
• Semiconductor stocks had their best quarter ever. (axios.com)

Strategy

• Do we need to be worried about stock market leverage? (awealthofcommonsense.com)
• The math behind Bobby Bonilla Day. (ritholtz.com)

IPOs

• Bending Spoons ($BSP) is now public. (axios.com)
• Signs of life in SPAC land. (pitchbook.com)
• Lime ($LIME) is now public. (ft.com)

Companies

• Meta ($META) now wants to sell compute. (semafor.com)
• Nippon Steel isn't exactly investing bigly in US Steel. (axios.com)
• Microsoft ($MSFT) is making bank in Ireland. (wsj.com)

Finance

• How BDC managers dealt with Medallia before its bankruptcy. (ft.com)
• Corporate pensions are fully funded again for the first time in almost two decades. (apollo.com)

Hedge funds

• Paul Singer's Elliott Management has recently spawned a slew of offshoots. (giftarticle.ft.com)
• AI lab, EquiLibre Technologies algorithms are being used to trade stocks. (techcrunch.com)

Conflicts of interest

• Donald Trump cleaned up on crypto in 2025. (nbcnews.com)
• Trump cut a deal with Kazakhstan over minerals. The Lutnick and Trump families will benefit. (nytimes.com)
• Suspicious timing for another Trump stock purchase. (cnbc.com)

Economy

• Manufacturing is holding up headed into the second half of the year. (bonddad.blogspot.com)
• Is AI adoption actually driving more hiring?!? (bigtechnology.com)
• Why has labor share fallen since Covid? (libertystreeteconomics.newyorkfed.org)

Earlier on Abnormal Returns

• Personal finance links: playing status games. (abnormalreturns.com)
• What you missed in our Tuesday linkfest. (abnormalreturns.com)
• Research links: symmetric deviations. (abnormalreturns.com)
• Don't miss a thing! Sign up for our daily e-mail newsletter. (abnormalreturns.com)
• Are you a financial advisor or in the wealth management business? Sign up for our exclusive, weekly Talking Wealth newsletter. (talkingwealthpod.com)

Mixed media

• The Bicentennial was a nationwide phenomenon. The semiquincentennial seemingly is not. (theatlantic.com)
• DOGE cut funding for localities to celebrate America 250. (notus.org)
• How a missing comma changes the meaning of the Declaration of Independence. (experimentalliving.substack.com)
• Pride in America, among Americans, is falling. (flowingdata.com)

Podcasts

• Meb Faber talks with Ben Carlson, author of "Risk and Reward." (podcasts.apple.com)
• Barry Ritholtz talks with Carl Richards, author of "Your Money: Reimagining Wealth in Simple Sketches." (ritholtz.com)
• Rick Ferri talks with Ben Felix about the importance of simplicity in investing. (bogleheads.podbean.com)
• Ben Felix talks with Shannon Lee Simmons about the emotional side of money. (rationalreminder.libsyn.com)

Retirement

• Seven misconceptions about retirement planning, including 'My income taxes will be lower in retirement.' (crr.bc.edu)
• America's retirement savings regime is hopelessly complex. (wsj.com)
• How to build a cushion in retirement. (wsj.com)

Fraud

• The lure of 'passive income' brings out scammers. (wsj.com)
• The risks of getting your financial advice from TikTok. (thedailyupside.com)
• Stop sending physical checks. (nytimes.com)

Wealth

• Wealthy people have the luxury of taking as much (or little) risk as they want. (awealthofcommonsense.com)
• Is $5 million in T-bills enough to live on? (ofdollarsanddata.com)

Inflation

• One reason why everything seems to cost more these days. (readthejointaccount.com)
• Inflation matters, but don't obsess over it. (jordangrumet.substack.com)

Personal finance

• You can't prevent a lost decade for stocks but you can prepare for it. (morningstar.com)
• Can AI help seniors age in place? (architecturaldigest.com)
• Heather Boneparth talks with Corrine Low about how families actually split responsibilities. (readthejointaccount.com)
• What you have is what you wanted in the past. (meaningfulmoney.life)
• When you play status games, there is always another one coming. (youngmoney.co)
• The only constant is change. (tonyisola.com)

Markets

• Bitcoin and gold seem to be trading together again. (econbrowser.com)
• Why is gold down? Pick your explanation. (ft.com)
• Strategy ($MSTR) is trying to shore up its business. (wsj.com)

Strategy

• What history tells us about the sustainability of the AI boom. (fa-mag.com)
• Why it's unrealistic to have a fund manager invest their own money exactly as their clients. (behaviouralinvestment.com)

Private assets

• How private equity managers are borrowing to fund their financial commitments. (pitchbook.com)
• PE firms are pulling out all the stops to extract capital from their funds. (ft.com)

Companies

• Great companies iterate faster. (mastersinvest.com)
• CEOs rarely give up a perk for nothing in return. This one did. (linkedin.com)
• AOL owner, Bending Spoons has created its own path. (barrons.com)
• Securitize ($SECZ) will soon be public. (theblock.co)

Economy

• Freight companies are seeing a bounce. (thetranscript.substack.com)
• The Case-Shiller national house price index, through April, was up 0.8% year-over-year. (calculatedrisk.substack.com)
• Why the Fed should communicate clearly its goals and methods. (stayathomemacro.substack.com)

Earlier on Abnormal Returns

• Research links: symmetric deviations. (abnormalreturns.com)
• What you missed in our Monday linkfest. (abnormalreturns.com)
• Adviser links: allowing yourself to be interested. (abnormalreturns.com)
• Don't miss a thing! Sign up for our daily e-mail newsletter. (abnormalreturns.com)
• Are you a financial advisor or in the wealth management business? Sign up for our exclusive, weekly Talking Wealth newsletter. (talkingwealthpod.com)

Mixed media

• Why does Chicago pay so much more than other cities to replace lead pipes? (grist.org)
• Flock cameras are proliferating. People want to know where the data is going. (wsj.com)
• Why small towns are struggling to pay for fireworks this year. (axios.com)
• Miami has an abandoned boat problem. (msn.com)

Data

• Excellent analysis now relies less on information and data. (rpc.cfainstitute.org)
• A look at the importance of data quality. (pivotal.substack.com)

Research

• How stock concentration seeds its own downfall. (klementoninvesting.substack.com)
• Extrapolators have a big effect on markets. (papers.ssrn.com)
• How forecast bias helps explain investor behavior. (alphaarchitect.com)
• Do stock prices today actually predict future cash flows? (alphaarchitect.com)
• Do 'wide moat' stocks actually outperform? (wealthmanagement.com)
• Why simple models are more robust. (timharford.com)
• Why managed futures isn't more popular? (taxalphainsider.com)
• Semi-liquid is NOT fully liquid. (larryswedroe.substack.com)
• A round-up of recent academic research including 'Social Media Co-Attention and Investment Co-Bubbles.' (alphainacademia.com)
• How increased longevity affects Social Security and Medicare funding. (papers.ssrn.com)

Leverage

• How worried do we need to be about margin debt and leverage? (wsj.com)
• What's behind the popularity of perpetual futures? (johnlothiannews.com)
• Why everyone is focused on perpetual futures. (howardlindzon.com)

Private assets

• How evergreen fund managers earn incentive fees on phantom gains. (wsj.com)
• Semi-liquid is NOT fully liquid. (larryswedroe.substack.com)

Companies

• Comcast ($CMCSK) is splitting in two with the spinoff of NBCUniversal. (spyglass.org)
• Strategy's ($MSTR) Bitcoin strategy has changed. (ft.com)

DRAM

• South Korean companies are planning to spend big on new fabs. (wsj.com)
• DRAM is the current AI chokepoint. (bycig.substack.com)

AI

• These hedge funds are poised to profit from an OpenAI IPO. (institutionalinvestor.com)
• RAISE US, a bi-partisan industry-backed, nonprofit looks 'to help workers meet the age of AI.' (politico.com)
• AI is sucking all the oxygen out of the economy. (ft.com)

Economy

• Companies still little sign of a recession. (thetranscript.substack.com)
• Two good signs of reduced uncertainty for the global economy. (apollo.com)
• What's wrong with the University of Michigan’s consumer sentiment survey? (natesilver.net)

Earlier on Abnormal Returns

• Adviser links: allowing yourself to be interested. (abnormalreturns.com)
• What you missed in our Sunday linkfest. (abnormalreturns.com)
• Top clicks last week on Abnormal Returns. (abnormalreturns.com)
• Don't miss a thing! Sign up for our daily e-mail newsletter. (abnormalreturns.com)
• Don't forget to sign up for exclusive, advisor-only weekly Talking Wealth newsletter. (talkingwealthpod.com)

Mixed media

• Don't forget to celebrate people while they are alive. (hunterwalk.com)
• Om Malik was a 'true natural born blogger.' (spyglass.org)

Podcasts

• Josh Brown talks with Ric Edelman about why financial planning may be one of the most AI-resistant professions, and the growing advisor shortage facing the industry. (youtube.com)
• Taylor Nissi sits down with Joseph Wang, Co-Founder and Chief Revenue Officer of SyntheticFI. (youtube.com)
• Ben Carlson talks with ⁠David Lau⁠, founder and CEO of DPL Financial Partners. (youtube.com)

The biz

• Charles Schwab ($SCHW) continues to slow the growth in long-short SMAs. (citywire.com)
• Pontera is looking for allies in its fight for access to data. (riabiz.com)

AI

• A lot of RIAs rely on Salesforce ($CRM). The company is trying to use AI to disrupt its own product(s). (riabiz.com)
• Altruist is rolling out Hazel's AI-powered financial planning feature. (wealthmanagement.com)
• Add Arca Wealth to the list of AI-forward RIA startups. (riabiz.com)

Advisers

• How to structure employee ownership of a (small-ish) advisory firm. (kitces.com)
• How to build credibility early in your advisor career. (xyplanningnetwork.com)
• There is something to be said to being your true self. (investmentnews.com)
• Seven mistakes business owners make in the lead up to a sale. (savantwealth.com)
• Wealthfront ($WLTH) wants in on the Trump Accounts hype. (citywire.com)
• Don't forget to sign up for exclusive, advisor-only weekly Talking Wealth newsletter. (talkingwealthpod.com)
• The when (and how) of asset location. (corporate.vanguard.com)

Strategy

• Why long-term investors can't simply ignore (inevitable) bad news. (tker.co)
• Why are investors seemingly holding more cash than usual? (awealthofcommonsense.com)

ETFs

• Corgi Investments launched 35 ETFs in one day. (reuters.com)
• Leveraged ETFs are going to try your patience. (marketsentiment.co)

Finance

• There is no shortage of 'zombie unicorns' in Silicon Valley. (economist.com)
• Venture capital is bifurcating. (investing101.substack.com)
• The PE industry has lobbied effectively to keep the carried interest loophole. (cashandcarried.substack.com)

DRAM

• Rising memory prices are going to hit nearly every tech company, Apple ($AAPL) included. (asymco.com)
• How DRAM shortages are affecting smaller manufacturers. (cnbc.com)

Companies

• Costco's ($COST) greatest success may be the Kirkland brand. (readtrung.com)
• How O'Reilly Auto ($ORLY) became a powerhouse. (fiscal.ai)

Housing policy

• The ROAD Act is better than you think. (newsletter.mikekonczal.com)
• The YIMBY movement is winning. (theargumentmag.com)

Government data

• Data dumps are meant to obfuscate as much as illuminate. (thebulwark.com)
• Public comment systems are getting overwhelmed with AI-written messages. (msn.com)

Public health

• More than 5 million people have dropped ACA insurance coverage. (npr.org)
• Why Elon Musk doesn't want to talk about USAID. (theargumentmag.com)

Defense

• More spending on drones is inevitable. Who benefits? (barrons.com)
• For Russia, the situation in Crimea is deteriorating. (wsj.com)
• A profile of a Ukrainian unit launching long range drone strikes. (npr.org)

Policy

• "Alligator Alcatraz" is no more. (politico.com)
• The U.S. is still illegally blowing up boats. (defector.com)
• Disaster aid decisions from FEMA seem increasingly political. (nytimes.com)
• Projects in Washington DC, and the White House, are pulling funds from national parks. (theatlantic.com)
• Cardiff Garcia talks with Martha Gimbel, executive director of The Budget Lab at Yale, about debt, deficits and taxes. (podcasts.apple.com)
• Trump Accounts are a diversion. (crr.bc.edu)

Economy

• Oil prices are down, but don't expect retail prices to come down much. (axios.com)
• Kevin Warsh's approach at the Fed is still unwritten. (axios.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)
• We are rapidly running out of road to kick the proverbial Social Security can. (abnormalreturns.com)
• Don't miss a thing! Sign up for our daily e-mail newsletter. (abnormalreturns.com)
• Are you a financial advisor? Sign up for our exclusive Talking Wealth newsletter. (talkingwealthpod.com)

Mixed media

• An obituary for Om Malik. (nytimes.com)
• Why people gravitated to Om. (susanhobbs.blog)
• A story about Om Malik that explains a lot. (daringfireball.net)