Podcasts

• Brian Adams talks with Frazer Rice, Director of Family Office Services at Next Capital Management, about what happens after trusts and estate plans are established. (podcasts.apple.com)
• Daniel Crosby talks with Jamie Hopkins is the chief wealth officer WSFS/Bryn Mawr Trust, and the CEO of Bryn Mawr Trust Advisors. (standarddeviationspod.com)
• Thomas Kopleman talks with Ben Lake about withdrawing funds during retirement. (youtube.com)

The biz

• Advisers are skeptical of Charles Schwab's ($SCHW) move into the HNW space. (riabiz.com)
• Altruist is adding some alts capabilities. (thinkadvisor.com)
• SpaceX employees want a deal on wealth management services. (finance.yahoo.com)

TradePMR

• Robinhood ($HOOD) is rapidly building out an in-house custody solution for TradePMR. (riabiz.com)
• Robinhood and TradePMR’s RIA referral program is live. (wealthmanagement.com)

Taxes

• The expanded QSBS is the hot new tax break. (bloomberg.com)
• ETFs are increasingly marketed as a way to defer taxes. (bloomberg.com)
• Links to white papers mentioned at Basis Northwest 2026. (taxalphainsider.com)

Advisers

• What you need to know about starting your own firm. (xyplanningnetwork.com)
• Clients don't want to feel judged. (advisorperspectives.com)
• How to respond to a client who uses ChatGPT to check you. (kitces.com)
• Are you a financial advisor? Sign up for the weekly Talking Wealth newsletter. (talkingwealthpod.com)
• The latest in advisortech news including 'Flourish launching a new mortgage lending platform.' (kitces.com)
• AI trading seems like a bad idea for most investors. (thedailyupside.com)

Markets

• Corporate profit margins rule all. (tker.co)
• AI trades are not a US-only phenomenon. (awealthofcommonsense.com)
• Good luck trying to forecast earnings a decade out. (ritholtz.com)

ETFs

• A change is coming for cannabis stocks and ETFs. (sherwood.news)
• What makes for a successful liquid alts ETF. (hedgeco.net)

AI

• Anthropic is now calling for a slowdown in AI development. (semafor.com)
• OpenAI wants to take the chat out of ChatGPT. (spyglass.org)

Immigration

• Well-funded startups are still able to hire H-1B workers. (pitchbook.com)
• There has not been a surge of denaturalizations under Trump. (npr.org)
• Eliminating birthright citizenship causes its own set of problems. (nytimes.com)

Law

• What happens when the courts can no longer trust DOJ attorneys? (thebulwark.com)
• Why lawyers are fleeing federal government jobs. (nytimes.com)
• How the Trump administration wants to preempt whistleblowers. (theatlantic.com)
• Publicly acknowledged donors to Trump's ballroom keep winning federal contracts. (washingtonpost.com)
• ICE doesn't want to have to disclose deaths of recently released detainees. (washingtonpost.com)

States

• Calling for the end of property taxes is fiscal nihilism. (hamiltonnolan.com)
• No matter where you look religion is getting injected into public schools. (wapo.st)
• More states are looking to launch child-focused savings programs. (thinkadvisor.com)

Economy

• What's behind the boost in payrolls? (wsj.com)
• Real yields are headed higher. (econbrowser.com)
• A look the cap table of the US of A. (thetwocents.substack.com)
• The economic schedule for the comgng 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)
• Saying no to algorithmic slop. (abnormalreturns.com)
• Don't miss a thing! Sign up for our daily e-mail newsletter. (abnormalreturns.com)

Mixed media

• Why Putin can't obtain his ultimate goal in Ukraine. (theatlantic.com)
• How Russian oligarchs get around Western sanctions. (wsj.com)
• Russia has been jamming GPS signals in Europe. (news.sky.com)
• Why Putin wants is investing in anti-aging technologies. (wsj.com)

Also on the site

• Saying no to algorithmic slop. (abnormalreturns.com)
• Are you a financial advisor? Sign up for the weekly 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. Five thoughts about the stock market including the surge in earnings. (ritholtz.com)
2. There is no one perfect way to invest. (awealthofcommonsense.com)
3. Why the stock market often seems to defy common wisdom. (tker.co)
4. How major asset classes performed in May 2026. (capitalspectator.com)
5. Joe Wiggins, "There is no process, no matter how robust, that works in all environments and at all times." (behaviouralinvestment.com)
6. There's little sign of stress in the financial markets. (trendlabs.com)
7. How Detroit markets pickup trucks to people who don't really need pickup trucks. (nytimes.com)
8. What makes for a great conversation. (moretothat.com)
9. What is a 'dickover'? (daringfireball.net)
10. Gold is well off its highs. (axios.com)

Autos

• How Detroit markets pickup trucks to people who don't really need pickup trucks. (nytimes.com)
• Americans are keeping their cars longer than ever. (wsj.com)
• Why the U.S. fell behind in EV adoption. (econofact.org)
• Why hybrid sales are surging. (wsj.com)
• So are sedans. (sherwood.news)

Transport

• How robotaxi companies deal with 'edge cases.' (wsj.com)
• Some farmers don't want or need high tech tractors. (404media.co)
• Why all commercial aircraft don't yet have Automatic Dependent Surveillance-Broadcast, or ADS-B. (wsj.com)

Energy

• The world should be taking advantage of China's largesse when it comes to solar panels. (ft.com)
• How to think about land use and solar. (theconversation.com)
• India has embraced solar. (grist.org)
• How plug-in solar works. (wsj.com)
• Bury those power lines! (grist.org)

Animals

• People love looking at fireflies. (wsj.com)
• How pigeons find their way home. (smithsonianmag.com)
• Deterring sharks isn't easy. (wsj.com)

Apple

• PC makers are now targeting the Macbook Neo. (wired.com)
• A review of Geoffrey Cain’s latest book, "Steve Jobs in Exile." (arstechnica.com)
• Apple ($AAPL) isn't going to buy Perplexity. (daringfireball.net)

Behavior

• Why middle aged men are more at risk of suicide. (anthonybbradley.substack.com)
• Derek Thompson talks with Laurie Santos about the loneliness crisis. (derekthompson.org)
• On the downsides of remote work. (scientificamerican.com)
• How EMDR therapy works. (wsj.com)
• How catastrophizing comes at us. (yearofmentalhealth.com)
• On the power of overcoming friction. (twopct.com)
• Just invite people over. (theatlantic.com)

Ebola

• How Ebola kills. (npr.org)
• Moderna ($MRNA) gets $50 million to develop mRNA Ebola vaccine against Bundibugyo. (arstechnica.com)

Melanoma

• How mRNA vaccines are being used to treat melanoma. (npr.org)
• How melanoma spreads at different ages. (sciencedaily.com)

Cancer

• Revolution Medicines ($RVMD) has the biggest breakthrough in pancreatic cancer, ever. (yahoo.com)
• Roche used to dominate the cancer market. No more. (giftarticle.ft.com)

Health

• The raft of medical innovations announced recently have been years in the making. (axios.com)
• Researchers are testing a universal coronavirus vaccine. (sciencedaily.com)
• The chair of the President’s Cancer Panel is a co-author on a new paper promoting ivermectin as a cancer treatment. (importantcontext.news)
• The Office of Human Research Protections has largely been defunded. (statnews.com)
• U.S. cigarette smoking has hit an all-time low. (apnews.com)

Drink

• Canned cocktails are gaining share. (theatlantic.com)
• Scotch, an AI startup, wants to remake liquor retailing. (news.crunchbase.com)

Cattle

• The screwworm is back in the U.S. (axios.com)
• Ranchers have problems on top of the screwworm. (nytimes.com)

Food

• Hershey's ($HSY) makes bank marketing s'mores. (fooddive.com)
• Higher scotch bonnet prices mean higher hot sauce prices. (semafor.com)
• Belgium has a surplus of potatoes. (nytimes.com)
• Why 7 Brew seems to be everywhere these days. (cnn.com)
• The foreign food chains that have come to NYC. (listomania.substack.com)
• Americans want farm animals to be treated humanely. (nytimes.com)

Entertainment

• Why should Hollywood learn from the success of 'Backrooms' and 'Obsession'? (slate.com)
• People now watch YouTube more than Netflix in average daily viewing time. (mediaplaynews.com)

Sports

• What a run to the NBA Finals is worth for the Knicks. (huddleup.substack.com)
• Ohio State is setting cases regarding sexual abuse by former OSU sports medicine and team doctor Richard Strauss. (sportico.com)

College

• Finance is the top career choice of university students and recent graduates. (thinkadvisor.com)
• Why colleges are reluctant to crack down on (AI) cheating. (freddiedeboer.substack.com)
• Why every college graduate should read Benjamin Todd’s newly updated book, "80,000 Hours." (marginalrevolution.com)

Children

• How the OBBBA undermines public schools. (slate.com)
• Estonia gave all its 11th and 12th graders a free ChatGPT account. (semafor.com)

Earlier on Abnormal Returns

• What you missed in our Friday linkfest. (abnormalreturns.com)
• Saying no to algorithmic slop. (abnormalreturns.com)
• Don't miss a thing! Sign up for our daily e-mail newsletter. (abnormalreturns.com)

Mixed media

• Brett Steenbarger, "In all areas of life, the greatest returns come from well thought out, meaningful investments and the ability to commit to those." (traderfeed.blogspot.com)
• LinkedIn is now the province of influencers. (nytimes.com)
• Why VCs look for founders with 'heart in the game.' (hunterwalk.com)
• You don't have to yield to the machines. (theconvivialsociety.substack.com)

Markets

• Gold is well off its highs. (axios.com)
• Semiconductor stocks have taken a hit from their highs. (semafor.com)
• ASML Holding ($ASML) is Europe's most valuable company, ever. (bloomberg.com)
• When do rising interest rates start to matter? (trendlabs.com)
• Is an AI bubble inevitable? (awealthofcommonsense.com)

ETFs

• Low costs matter, even for Bitcoin ETFs. (wsj.com)
• The Vanguard S&P 500 ETF ($VOO) has crossed $1 trillion in assets. (etf.com)

Private assets

• Blackstone ($BX) is having to gate BCRED. (wsj.com)
• Private credit lenders are now tightening up their lending standards. (wsj.com)

IPOs

• S&P took a stand. (philbak.substack.com)
• S&P stands alone among index providers when it comes to SpaceX. (ft.com)
• The vast majority of American investors will soon be SpaceX shareholders. (thebulwark.com)
• A look at the investors who are going to clean up on SpaceX. (om.co)
• Traders and investor should view SpaceX differently. (aswathdamodaran.blogspot.com)
• You are under no obligation to have an opinion about the SpaceX IPO. (godspeed.today)

Prediction markets

• Signs that prediction markets are taking share from sports books. (barrons.com)
• How Polymarket utilizes paid influencers. (politico.com)
• Not everyone is happy about the approval of perpetual futures. (theblock.co)
• Robinhood ($HOOD) is shifting trades away from Kalshi. (bloomberg.com)
• Prediction market companies have rapidly built up their regulatory efforts. (newrepublic.com)

Economy

• The May NFP showed continued payroll growth and a 4.3% unemployment rate. (bonddad.blogspot.com)
• Jobs growth continues, but its still largely driven by healthcare jobs. (newsletter.platypuseconomics.com)
• How the stock market is driving American wealth. (axios.com)
• Americans just keep spending. (finance.yahoo.com)

Earlier on Abnormal Returns

• Longform links: suspicious markets. (abnormalreturns.com)
• What you missed in our Wednesday linkfest. (abnormalreturns.com)
• Personal finance links: winning at life. (abnormalreturns.com)
• Saying no to algorithmic slop. (abnormalreturns.com)
• Don't miss a thing! Sign up for our daily e-mail newsletter. (abnormalreturns.com)

Mixed media

• Half of all web traffic is now algorithmic, i.e. bots. (tomshardware.com)
• A lot data center projects are getting pushed through despite widespread opposition. (slate.com)
• Some skepticism on space-based data centers. (splittinginfinity.substack.com)

Books

• A look at Tyler Goodspeed’s "Recession: The Real Reasons Economies Shrink and What to Do About It." (worksinprogress.news)
• Joe Weisenthal and Tracy Alloway talk with Brendan Greeley, author of "The Almighty Dollar: 500 Years of the World's Most Powerful Money." (podcasts.apple.com)
• Five insights from "Longevity Nation: The People, Ideas, and Trends Changing the Second Half of Our Lives" by Michael Clinton. (nextbigideaclub.com)
• Tyler Cowen talks with Toby Wilkinson author of "The Last Dynasty: Ancient Egypt from Alexander the Great to Cleopatra." (conversationswithtyler.com)

AI

• How close are we to self-improving AI? (ft.com)
• The case for data centers as engines for innovation. (notboring.co)

Longreads

• The Consumer Financial Protection Board has been gutted. (bloomberg.com)
• Why home building isn't a business with economies of scale. (construction-physics.com)
• Why the Great Lakes, and other bodies of water, are filling up with plastics. (chicagotribune.com)
• Lessons from Peter Magyar's defeat of Viktor Orban. (nytimes.com)
• How BPC-157 became a high profile peptide. (statnews.com)
• Why trucks full of cheese are getting stolen. (longreads.com)
• What makes for a great conversation. (moretothat.com)

Markets

• Five thoughts about the stock market including the surge in earnings. (ritholtz.com)
• Investors are constantly having to learn new vocabulary. (trendlabs.com)

Finance

• Citadel wants to pay other hedge funds for ideas. (finance.yahoo.com)
• AlphaSense is valued at $7.5 billion in a new fundraising round. (wsj.com)
• Jane Street and Citadel Securities generated combined revenues of $114bn last year. (ft.com)

Private assets

• Partners Group has capped withdrawals at its flagship private equity fund for wealthy individuals. (ft.com)
• Cliffwater saw a big redemption request for its flagship private credit fund. (bloomberg.com)

Companies

• Amazon ($AMZN) has overtaken Walmart ($WMT) to claim the top spot in the Fortune 500. (nypost.com)
• How OpenAI lost its lead to Anthropic. (sherwood.news)
• Microsoft ($MSFT) wants in on the super-app game. (spyglass.org)

The Pentagon

• The U.S. has a missile interceptor deficit. (axios.com)
• The Pentagon has hired a January 6th rioter for a counterterrorism job. (wapo.st)

Economy

• On the state of the farm economy. (econbrowser.com)
• Is spending a better measure of consumer sentiment? (econbrowser.com)
• What the price of gasoline tell us. (buttondown.com)

Earlier on Abnormal Returns

• Personal finance links: winning at life. (abnormalreturns.com)
• What you missed in our Tuesday linkfest. (abnormalreturns.com)
• Research links: bored overtraders. (abnormalreturns.com)
• Saying no to algorithmic slop. (abnormalreturns.com)
• Don't miss a thing! Sign up for our daily e-mail newsletter. (abnormalreturns.com)

Mixed media

• Why women are at an advantage in the new economy. (newsletter.platypuseconomics.com)
• How the housing market recession has affected workers. (awealthofcommonsense.com)
• How remote work affects the hiring of young adults. (libertystreeteconomics.newyorkfed.org)
• AI has scrambled the job application process. (theatlantic.com)

Podcasts

• Barry Ritholtz talks with Jason Zweig and William Bernstein about their late friend Jonathan Clements, author of "Money and Me." (ritholtz.com)
• Jim Dahle talks with Ben Carlson, author of "Risk and Reward." (whitecoatinvestor.com)
• Why smart people make bad investment decisions. (peterlazaroff.com)
• Morgan Housel on why 'the luckier you are the nicer you should be.' (podcasts.apple.com)

Housing

• Moving ain't cheap. (humbledollar.com)
• Walls are in. White picket fences are on their way out. (wapo.st)
• An increasing number of homeowner insurance claims are being closed without payment. (wsj.com)
• Land appreciates. Houses depreciate. (housingnotes.com)

Retirement

• How to prepare for retirement now. (retirementresearcher.com)
• How inflation can impact retirement. (morningstar.com)
• On the challenges of the solo ager. (wsj.com)

Taxes

• Why investors discount the costs of 'tax drag.' (wsj.com)
• The expanded QSBS is the hot new tax break. (bloomberg.com)

Tax-advantaged savings

• Gen Z has bought into the Roth IRA. (wsj.com)
• The case for 529 accounts is only getting stronger. (morningstar.com)
• How to coordinate your 401(k) contributions with your spouse. (crr.bc.edu)

Work

• Why some people work well past retirement age, and get criticized for it. (theconversation.com)
• There's no right way to return-to-work after having a baby. (readthejointaccount.com)

Personal finance

• Cognitive labor is real. (contessacapitaladvisors.com)
• Robinhood ($HOOD) is ramping up AI tools for users. (wsj.com)
• Lessons learned from Jonathan Clement's "Money and Me." (humbledollar.com)
• The problem with actually pursuing 'Die With Zero.' (jordangrumet.substack.com)
• How you make your money matters. (ofdollarsanddata.com)
• We're all unique. What can you do to help? (theretirementmanifesto.com)
• You don't have to be famous to matter. (dariusforoux.com)

Strategy

• There is no one perfect way to invest. (awealthofcommonsense.com)
• There is no obligation to performance chase. (behaviouralinvestment.com)
• The case for investing in family-led companies. (mastersinvest.com)

IPOs

• How the IPO market stacks up in 2026. (ft.com)
• How the mega-IPOs will change the stock market. (morningstar.com)
• Convertible bond issuance is booming. (ft.com)

ETFs

• Index fund providers are no longer neutral players. (philbak.substack.com)
• A closer look at the Calamos US Equity Autocallable Income ETF ($CAIE). (larryswedroe.substack.com)

Berkshire Hathaway

• Berkshire Hathaway ($BRK.A) has doubled down on the housing market. (wsj.com)
• Why Berkshire Hathaway ($BRK.A) bought a big stake in Google ($GOOGL). (barrons.com)

Companies

• These CEOs earned some unusual 'additional compensation' in 2025. (ft.com)
• Salesforce ($CRM) has a stake in Anthropic worth about $5 billion. (bloomberg.com)

VCs

• AI is killing startups founded before ChatGPT. (cnbc.com)
• Defense tech investment has surged. (news.crunchbase.com)
• For VCs biotech is the anti-AI. (pitchbook.com)

Economy

• Business formation keeps ticking higher. (apollo.com)
• One in four American workers is now older than 55. (axios.com)
• Why isn't oil more expensive? (semafor.com)

Earlier on Abnormal Returns

• Research links: bored overtraders. (abnormalreturns.com)
• Saying no to algorithmic slop. (abnormalreturns.com)
• What you missed in our Monday linkfest. (abnormalreturns.com)
• Adviser links: inordinate time. (abnormalreturns.com)
• Don't miss a thing! Sign up for our daily e-mail newsletter. (abnormalreturns.com)

Mixed media

• Tim Ferriss, "People can love or hate what you’re creating, but you don’t want to land in the mild middle." (tim.blog)
• How far can you stretch your brand? (altgoesmainstream.substack.com)
• What is a 'dickover'? (daringfireball.net)

Research

• Default options matter. (alphaarchitect.com)
• An allocation is not the same thing as exposure. (markovprocesses.com)
• A handful of stocks drive overall stock market performance. (wealthmanagement.com)
• How models can help identify losing funds. (morningstar.com)
• Focus on changes in ESG scores, not absolute levels. (rpc.cfainstitute.org)
• The case for opting out of the active investing game. (behaviouralinvestment.com)
• Do podcasts move stock markets? (papers.ssrn.com)
• Do auditors make for good investors? (klementoninvesting.substack.com)
• A round-up of recent acdemic research including 'When Does Bad News Stick? Topic-Level Asymmetry in Narrative Dynamics.' (alphainacademia.com)

May 2026

• The S&P 500 returned 5.26% in May 2026. (on.spdji.com)
• How major asset classes performed in May 2026. (capitalspectator.com)

IPOs

• Anthropic has filed to go public. (techcrunch.com)
• Investors are finding new ways to get into pre-IPO shares. (bloomberg.com)

ETFs

• Does the world really need prediction market-based ETFs? (morningstar.com)
• Who's the target market for target date corporate bond ETFs? (obliviousinvestor.com)

Berkshire Hathaway

• Max Anderson, "Buffett built his legacy not just through genius investing, but through developing a reputation for doing business the right way." (theweekendreader.substack.com)
• Berkshire Hathaway ($BRK.A) is buying Taylor Morrison ($TMHC). (finance.yahoo.com)

AI

• Canary Data, makes AI software for professional financial analysts and investors. (wsj.com)
• How Schneider Electric uses AI. (nytimes.com)
• How StockTwits uses AI. (howardlindzon.com)

Europe

• Why Spain's economy is outperforming. (theatlantic.com)
• How Germany lost its way. (nytimes.com)
• Europe needs immigrants. (unchartedterritories.tomaspueyo.com)

Economy

• How politics has infected consumer sentiment data. (stayathomemacro.substack.com)
• AI is driving manufacturing spending. (bonddad.blogspot.com)

Earlier on Abnormal Returns

• Adviser links: inordinate time. (abnormalreturns.com)
• What you missed in our Sunday linkfest. (abnormalreturns.com)
• What you missed last week on Abnormal Returns. (abnormalreturns.com)
• Don't miss a thing! Sign up for our daily e-mail newsletter. (abnormalreturns.com)

Mixed media

• There seems to be growing interest in rare book collecting. (engelsbergideas.com)
• Social media isn't completely broken. (danieldrezner.substack.com)
• Reading matters. (nytimes.com)

Podcasts

• David Armstrong talks with Marty Bicknell, president and CEO of Mariner Wealth Advisors. (wealthmanagement.com)
• Kunal Kapoor talks with Leyla Kunimoto of Accredited Investor Insights. (morningstar.com)
• Jonathan Boyar talks with Josh Brown and Michael Batnick about the business of content and running a successful RIA. (boyarresearch.substack.com)
• Michael Kitces and Carl Richards on how to engage with a 'disengaged spouse.' (kitces.com)

Schwab

• Schwab plans to open Wealth Advisory (SWA)-only retail offices in 30 upscale markets by year-end. (riabiz.com)
• Schwab ($SCHW) is telling advisers not to worry. (thinkadvisor.com)
• Is AI going to accelerate the disintermediation of brokerage sweep profits? (barrons.com)

Practice management

• Structure matters a lot when selling your practice. (thedailyupside.com)
• When advisers start hiring they have to put in place employee policies like for PTO. (kitces.com)

Taxes

• Tax-efficiency is a year-round effort. (investmentnews.com)
• Charitable giving is less about taxes than identity. (investmentnews.com)
• Wealthy American expend a lot of effort to avoid taxes. (ft.com)

Advisers

• How to help childless clients prepare for the future. (kitces.com)
• How to deliver bad news to a client. (advisorperspectives.com)
• How to manage multiple perspectives in a client meeting. (xyplanningnetwork.com)
• Ask your clients more questions. (thinkadvisor.com)
• A look inside the retreats for soon-to-be wealthy next generations. (wsj.com)
• Not everyone wants the same thing out of retirement. (advisorperspectives.com)

Markets

• There's little sign of stress in the financial markets. (trendlabs.com)
• Why the stock market often seems to defy common wisdom. (tker.co)

Podcasts

• Patrick O'Shaughnessy talks with Dan Loeb of Third Point game. (youtube.com)
• Jon Reeder talks with CEO of Fairlight Capital. (podcasts.apple.com)
• Jim O'Shaughnessy talks with Jason Buck, founder and CIO of Mutiny Funds. (newsletter.osv.llc)

Fund management

• Why aren't more ETFs closing? (insight.factset.com)
• How MSCI ($MSCI) rode the index boom. (fiscal.ai)

Venture capital

• It's the Wild West when it comes to AI company secondaries. (cashandcarried.substack.com)
• How to use data to make for better venture investments. (gettheleverage.com)

Companies

• Om Malik, "Whether it is OpenAI or Anthropic, revenue cannot be resolved without an S-1." (om.co)
• Multinational companies are cashing in on the use of tax havens since the start of 2025. (nytimes.com)
• Michael Dell's ($DELL) bet on Trump has paid off. (cnbc.com)
• A renewed fertility push isn't great for contraceptive sales in China. (ft.com)

Ethics

• What would actual ethics reforms look like? (newyorker.com)
• On Truth Social, Trump has repeatedly promoted Stake, an unregulated online casino. (popular.info)
• How a company backed by Donald Trump Jr. came to receive a $620 million loan from the Pentagon. (propublica.org)
• There's no comparison in American history for the corruption in this administration. (noahpinion.blog)

Law

• The scale of malicious prosecution by the administration is 'staggering.' (thebulwark.com)
• Why Trump prosecutors are struggling to convince grand juries. (nytimes.com)

Crime

• Why are murders down in Baltimore? (marginalrevolution.com)
• 200 people have been killed in boat strikes, but cocaine prices in the U.S. haven't budged. (nytimes.com)

Diplomacy

• Over 100 American embassies don't have a Senate approved ambassador. (theatlantic.com)
• Donald Trump’s Board of Peace has $0 in the bank. (ft.com)

Policy

• The OBBBA locked in budget deficits indefinitely. (newsletter.mikekonczal.com)
• West Virginia has a shortage of workplace inspectors. (mountainstatespotlight.org)
• Why the Kennedy Center may never be same. (theatlantic.com)
• Small wins for free speech. (axios.com)

Economy

• Some reasons for poor consumer sentiment. (awealthofcommonsense.com)
• Employee compensation keeps falling as a percentage of GDI. (wsj.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)
• Don't miss a thing! Sign up for our daily e-mail newsletter. (abnormalreturns.com)

Mixed media

• Some farmers have become influencers to help survive. (wsj.com)
• Why people go to great lengths to collect ramps. (slate.com)
• In this country we treat pigs horribly. (noahpinion.blog)

Stay in touch

• Don't miss a thing! Sign up for our daily e-mail newsletter. (abnormalreturns.com)
• Are you a financial advisor? Sign up for the weekly Talking Wealth newsletter. (talkingwealthpod.com)

Top clicks this week

1. Just how much AI is driving the stock market. (morningstar.com)
2. Bonds and stocks are living in two different worlds. (mrzepczynski.blogspot.com)
3. How the bests analysts use AI. (optimisticallie.com)
4. Don't let your investment strategy burn you out. (awealthofcommonsense.com)
5. How Fidelity and Schwab ($SCHW) are throttling demand for long-short SMAs. (riabiz.com)
6. What to make of rising interest rates. (awealthofcommonsense.com)
7. Long term TIPS are now yielding near 3%. (bobeunlimited.substack.com)
8. Why we resist the 'good enough life.' (newyorker.com)
9. The ERP is essentially zero. (wsj.com)
10. The case for investing in the two parts of the Vanguard Total World Stock ETF ($VT). (elmwealth.com)