Markets

• Higher real yields are acting like competition for stocks. (trendlabs.com)
• Market indicators often work until they don't. (humbledollar.com)
• What ISN'T working in this market environment? (awealthofcommonsense.com)

AI

• Keeping up with AI developments is a full time job. (spyglass.org)
• Companies have suddenly decided to ration AI use. (wsj.com)
• AI is unique in that big companies are making huge bets. (asymco.com)
• AI doesn't have to be smarter than humans to be transformative. (noahpinion.blog)

Energy

• The Trump administration admits that it cancelled energy projects in blue states. (nytimes.com)
• The administration's crackdown on clean energy projects is also a jobs killer. (bloomberg.com)

Law and order

• Trump's personal lawyers are all over the government. (vox.com)
• Good luck trying to get clemency if you don't have connections to the administration. (nytimes.com)
• Taylor Farms went to the White House amidst the search for cyclospora. (wsj.com)
• Crime rates are falling, no one is really sure why. (reason.com)

Immigration

• Retirement communities are struggling with labor shortages due to the immigration crackdown. (nytimes.com)
• ICE is still looking to expand capacity. (theatlantic.com)

SNAP

• Food banks are feeling the impact of SNAP reductions. (axios.com)
• Faced with new paperwork, people are losing SNAP eligibility. (nytimes.com)
• What's behind the drop in SNAP enrollment? (newsletter.platypuseconomics.com)

The Pentagon

• Are we getting the full story on the war in Iran from the Pentagon? (theatlantic.com)
• We shouldn't be encouraging military pilots to mess around. (theatlantic.com)

Economy

• New tariffs equal higher policy uncertainty. (econbrowser.com)
• There's never a shortage of human wants and desires, hence economic growth. (tker.co)
• Electrical components and transportation equipment employment are bucking the overall (down) manufacturing trend. (agglomerations.eig.org)
• The economic schedule for the coming week. (economicweekly.substack.com)

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 our exclusive Talking Wealth newsletter. (talkingwealthpod.com)

Earlier on Abnormal Returns

• Top clicks this week on Abnormal Returns. (abnormalreturns.com)
• What you missed in our Saturday linkfest. (abnormalreturns.com)
• What you missed in our Friday linkfest. (abnormalreturns.com)

Mixed media

• Iran's Kheibar Shekan missile is getting more sophisticated. (wsj.com)
• How attacks on Russian oil refineries affects the local economy. (cepr.org)
• More reports that Russia is engaging in war crimes with POWs. (wsj.com)
• Who wins from the Saudi Arabia nuclear deal? (danieldrezner.substack.com)

Podcasts

• John Manganaro and Sean Allocca talk longevity and aging with Jon Sabes. (youtube.com)
• Thomas Kopelman reviews the state of estate planning with David Haughton. (podcasts.apple.com)
• Jack Forehand and Justin Carbonneau talk with Wes Gray at ETF Architect about 351 exchanges. (investmentnews.com)

Charles Schwab

• Tax-aware long-short accounts have been a boon to Charles Schwab ($SCHW). (riabiz.com)
• Charles Schwab ($SCHW) wants to transition clients into Schwab Wealth Advisory. (riabiz.com)

Tax aware investing

• Aggressive 351 exchanges risk a regulatory backlash. (bloomberg.com)
• The administration has injected uncertainty into tax aware strategies. (wealthmanagement.com)
• Brent Sullivan on the spread of 351 exchange ETFs. (etf.com)
• Regulators only got interested in tax-focused strategies once they became available to more people. (x.com)

Funds

• Why RIAs are launching their own ETFs. (investmentnews.com)
• This Vanguard fund is way off-brand. (riabiz.com)

Aging

• An empty nest is a planning opportunity. (investmentnews.com)
• Retiree health care spending is only going in one direction: up. (newsroom.fidelity.com)
• How adult children can have conversations with aging parents. (wsj.com)

Giving

• Giving away money is harder than it looks. (also.roybahat.com)
• Why this business owner is giving his company to its employees. (nytimes.com)

Advisers

• Advisor M&A volume keeps chugging along. (investmentnews.com)
• The CFP Board has some explaining to do. (advisorperspectives.com)
• Goldman Sachs ($GS) wants to ease access to pre-IPO shares. (citywire.com)
• How to open a Trump Account. (kitces.com)

Autos

• The Cybertruck is a flop. (futurism.com)
• The stick shift is nearly dead. (msn.com)
• Americans are snapping up hybrids. (wired.com)
• Expanded EV use has made for cleaner Beijing air. (reasonstobecheerful.world)

Transport

• Too many guardrails need fixing. (newyorker.com)
• Brightline's woes are a cautionary tale for private infrastructure supporters. (ft.com)

Energy

• How Sweden could become a source of rare earth metals. (sciencedaily.com)
• Plug-in solar is coming to New Hampshire. (thecooldown.com)
• How Heineken is using bricks to store heat. (wsj.com)
• Got sheep? Put up solar panels. (thecooldown.com)

Environment

• The challenge of extreme heat is worse at night. (giftarticle.ft.com)
• Iowa has a water quality problem. (politico.com)

Air quality

• Why a swath of Canada is burning. (billmckibben.substack.com)
• A look at the health benefits of eliminating gas stoves. (theconversation.com)
• There's no upside to air pollution. (theargumentmag.com)
• Why AQI is not a sufficient measure. (theatlantic.com)

Fish

• Fish populations in Lake Superior have rebounded. (racketmn.com)
• Evidence that ancient Norwegians translocated brown trout inland. (smithsonianmag.com)
• How orcas crash into fish, obliterating them in the process. (yahoo.com)

Data centers

• When environmental regulators weigh in on the side of data center operators. (politico.com)
• Maybe we can agree to not subsidize data centers. (boondoggle.substack.com)

Behavior

• Fly fishing as therapy. (npr.org)
• Why pet ownership is worth it. (klementoninvesting.substack.com)
• Why psilocybin has long-lasting effects. (sciencedaily.com)

Testosterone

• TRT is only indicated for hypogonadism. (arstechnica.com)
• Will testosterone make for better soldiers? (theconversation.com)

Health

• Measles is having another big year. (axios.com)
• In the Midwest the incidence of Lyme disease is on the rise. (wsj.com)
• Some GLP-1 users are noticing hair loss. (gizmodo.com)
• What's keeping men from becoming nurses? (npr.org)

Longevity

• The problem with modern day longevity 'science.' (newyorker.com)
• Being exposed to a pandemic as a youth takes its toll on longevity. (papers.ssrn.com)
• When a spouse gets sick, the incidence of retirement increases. (papers.ssrn.com)
• The case against longevity gurus. (sensible-med.com)
• Healthy aging and the arts. (wsj.com)

Fitness

• How exercise rewires the heart. (sciencedaily.com)
• Got back pain? Go swimming. (refractor.io)

Outbreaks

• North Carolina has a new cyclosporiasis outbreak. (consumerreports.org)
• Now there is a recall of eggs due to salmonella. (nytimes.com)
• Despite its track record, raw milk has its supporters. (propublica.org)

Food

• Indoor farming has a very mixed track record. (thehustle.co)
• Avocado oil has an authenticity problem. (npr.org)
• Signs that solo dining is on the rise. (axios.com)

Streaming

• Netflix ($NFLX) is playing with fire with its subscribers. (honest-broker.com)
• ESPN is a shell of its former self. (nytimes.com)
• Peacock is now profitable. (awfulannouncing.com)

Running

• Why is everyone, including teenagers, suddenly running faster? (wired.com)
• Asics are having a moment. (wsj.com)

Sports

• If turf is necessary for FIFA, why not for the NFL? (frontofficesports.com)
• The introduction of ABS is bad news for older umpires. (wsj.com)

College

• A look at the battle to save Cal Poly's swimming teams. (sportico.com)
• College students can't read whole books any more. (theconversation.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

• Commemorative popcorn buckets have become a thing. (msn.com)
• Going to Disney World these days sounds exhausting. (wsj.com)
• Natural fabrics look very different on screen. (yakimenko.substack.com)

Books

• Five insights from Ian Bogost's new book, "The Small Stuff: How to Lead a More Gratifying Life." (nextbigideaclub.com)
• An excerpt from "Young Money: A Field Guide to Wealth and Purpose in Your Twenties" by Jack Raines. (youngmoney.co)
• A Q&A with Colson Whitehead, author of the new novel "Cool Machine." (variety.com)

Business

• The U.S. is losing share in the global agricultural industry. (giftarticle.ft.com)
• In Chicago, neither cabbies or ride share drivers are making money. (chicago.suntimes.com)
• How your cookware got worse. (worseonpurpose.com)

Longreads

• Japan lived through decades of deflation. That era is over. (giftarticle.ft.com)
• The Trump administration has kneecapped the business of graduate schools. (bloomberg.com)
• What's behind the war on sunscreen? (menshealth.com)
• How dinosaur bones became a plaything for billionaires. (bloomberg.com)
• What's the explanation for 'terminal lucidity'? (nytimes.com)
• When music is so easy to access, we don't value it as much. (pigeonsandplanes.com)
• Why mentors seem less impressive over time. (libertyrpf.com)
• A profile of Pulitzer Prize winner Pablo Torre. (variety.com)
• Lessons learned from training an unruly dog. (theguardian.com)
• In praise of stone walls. (theatlantic.com)

Markets

• Can the market absorb more IPOs? (marketwatch.com)
• Rising Treasury rates make for better competition for stocks. (tmcresearch.com)
• The stock market is calm on the surface, churning underneath. (axios.com)

Prediction markets

• Is Wall Street going to go all-in on prediction markets? (economist.com)
• Catherine Rampell and Justin Wolfers talk prediction markets. (youtube.com)
• The downsides of letting people bet on drug clinical trial outcomes. (abundanceandgrowth.org)

Weight loss drugs

• Eli Lilly ($LLY) is on track to file for approval for retatrutide. (biopharmadive.com)
• We don't have great data on the use of GLP-1 use with the elderly. (scientificamerican.com)
• Anhedonia seems to be a side-effect of GLP-1 use. (gizmodo.com)

Stay in touch

• Don't miss a thing! Sign up for our daily e-mail newsletter. (abnormalreturns.com)
• Do you in wealth management? Sign up for our advisor-exclusive Talking Wealth newsletter. (talkingwealthpod.com)

Energy

• Brent is once again above $100 a barrel. (econbrowser.com)
• There's no relief in sight for global oil supplies. (wsj.com)
• Agriculture runs on diesel. That's a problem. (nytimes.com)
• How the war has affected fertilizer prices. (reuters.com)
• Europe still has a natural gas problem. (semafor.com)

Economy

• Weekly intial unemployment claims are at multi-decade lows. (bonddad.blogspot.com)
• There is always churn in the jobs market. (theargumentmag.com)

Earlier on Abnormal Returns

• Longform links: knowing stuff. (abnormalreturns.com)
• What you missed in our Wednesday linkfest. (abnormalreturns.com)
• Personal finance links: buying back time. (abnormalreturns.com)

Mixed media

• How Taco Bell is dealing with the fallout from the cyclospora outbreak. (wsj.com)
• Health officials are now tracking a separate outbreak. (apnews.com)
• Americans are shunning all manner of fresh produce. (nytimes.com)
• Why lettuce is a frequent culprit in outbreaks. (slate.com)

ETFs

• Michael Batnick talks with James Seyffart of Bloomberg Intelligence about the explosion in leveraged ETFs. (youtube.com)
• More than half of new ETF launches in 2026 are single stock. (ft.com)
• Eric Balchunas and Joel Weber speak with James Seyffart and Baird Strategas ETF strategist Todd Sohn about the fears around leveraged ETs. (bloomberg.com)

Finance

• Buckle up. The SpaceX ($SPCX) IPO lockups are coming off. (morningstar.com)
• Florida's property insurance crisis seems to be easing. (insurancejournal.com)
• Software stands out as an issue for private credit funds. (morningstar.com)

Apple

• Apple's ($AAPL) ad experience sucks. (daringfireball.net)
• Joe Weisenthal and Tracy Alloway talk with Marc Gurman about what Apple ($AAPL) has coming down the pike. (podcasts.apple.com)

Google

• Google ($GOOGL) owns roughly a 6% stake in SpaceX ($SPCX). (wsj.com)
• A look at the business of Google ($GOOGL) Cloud. (tomtunguz.com)

OpenAI

• ChatGPT Health is now live. (techcrunch.com)
• What would it take to make OpenAI profitable? (thefinancequotient.substack.com)

Stay in touch

• Don't miss a thing! Sign up for our daily e-mail newsletter. (abnormalreturns.com)
• Do you in wealth management? Sign up for our advisor-exclusive Talking Wealth newsletter. (talkingwealthpod.com)

Sports business

• Harbinger Sports Partners has purchased a stake in the A's. (frontofficesports.com)
• What MLS needs to do to up its global standing. (johnwallstreet.com)
• The PGA is picking up the pieces from LIV Golf. (sports.yahoo.com)
• What NFL team will be sold next? (frontofficesports.com)

Ukraine

• U.S. defense contractors are licensing Ukrainian drone technologies. (wsj.com)
• What's happening with Ukraine's military leadership? (npr.org)
• Ukraine is now dropping drones off with other drones. (arstechnica.com)

Tariffs

• The administration has reimposed tariffs on our major trading partners. (cnbc.com)
• Nobody actually believes their is a basis for these tariffs. (ritholtz.com)
• Why these tariffs are worse than before. (newsletter.platypuseconomics.com)

Earlier on Abnormal Returns

• What you missed in our Thursday linkfest. (abnormalreturns.com)
• Longform links: knowing stuff. (abnormalreturns.com)

Mixed media

• Why we don't talk about failure enough. (ritholtz.com)
• Kids these days are pivoting to analog. (chartkidmatt.com)
• How to re-focus your thinking. (experimentalliving.substack.com)

Podcasts

• Barry Ritholtz talks with Jordan Grumet about when to fire yourself as your financial advisor. (ritholtz.com)
• Christine Benz and Amy Arnott talk with Dana Anspach, author of "Living Off Your Acorns: Your Guide to the Four Phases of Retirement." (morningstar.com)
• Jordan Grumet talks with Jesse Mecham author of the upcoming book, "Never Worry About Money Again." (jordangrumet.substack.com)

Retirement

• Why you need to retire to something. (meaningfulmoney.life)
• Leaving an inheritance is not a moral failing. (jordangrumet.substack.com)
• How AI could affect workers nearing retirement. (crr.bc.edu)

Accounts

• How 351 exchanges work, and don't. (wsj.com)
• Trump Accounts aren't what they seem. (newsletter.platypuseconomics.com)
• These are the most generous 401(k) plans in America. (wsj.com)

Wealth

• Not everyone who acts rich IS rich. (awealthofcommonsense.com)
• One person's luxury is another person's necessity. (humbledollar.com)

Books

• Five books on learning how to be rich including: "More than Enough: A Brief Guide to the Questions That Arise After Realizing You Have More Than You Need" by Mike Piper. (whitecoatinvestor.com)
• An excerpt from "How to Get Rich in American History: 300 Years of Financial Advice That Worked (& Didn’t)" by Joseph S. Moore. (fastcompany.com)

Personal finance

• Nobody's money life is fully solved. (mr-stingy.com)
• Don't let cheap rent go to waste. (moneychangeseverything.substack.com)
• Things to do after a divorce. (savantwealth.com)
• Sound financial advice is universal. (economist.com)
• Giving money away isn't as easy as it looks. (humbledollar.com)
• Your dream life is allowed to change over time. (dariusforoux.com)
• Diane Shiffer, "Growing into your full, wild, radiant self is not the backup plan. It’s the whole point." (oldster.substack.com)
• THIS is financial freedom. (jordangrumet.substack.com)

Finance

• Private equity is increasingly filled with stranded assets. (wsj.com)
• Single stock futures are getting a second life. (rcmalternatives.com)

Autos

• How disappointing are Tesla ($TSLA) Cybertruck sales? (bloomberg.com)
• Costco ($COST) is experimenting with stand alone gas stations. (wsj.com)
• Used EV prices are firming. (axios.com)

Conflicts of interest

• Don Jr.'s 1789 Capital is on a hot streak. (nytimes.com)
• Where has Venezuela's oil revenue gone? (giftarticle.ft.com)
• Sending a donation to MAGA Inc. is now the go-to move for companies in trouble. (popular.info)

Iran

• Iran retains its capacity to strike beyond its borders with missiles. (wsj.com)
• Now the Red Sea Strait is at risk from the Houthis. (cnbc.com)
• How the closing of the Strait of Hormuz is playing out in oil markets. (apollo.com)
• Why Iran keeps targeting Kuwait. (ft.com)

Stay in touch

• Don't miss a thing! Sign up for our daily e-mail newsletter. (abnormalreturns.com)
• Do you in wealth management? Sign up for our advisor-exclusive Talking Wealth newsletter. (talkingwealthpod.com)

Work

• More Americans are dropping out of the work force. (nypost.com)
• A lot of American workers stay on the job for health insurance. (npr.org)

Economy

• Data center construction is crowding out other industrial uses. (wsj.com)
• Reading the Fed is now harder these days. (axios.com)

Earlier on Abnormal Returns

• Personal finance links: buying back time. (abnormalreturns.com)
• What you missed in our Tuesday linkfest. (abnormalreturns.com)
• Research links: overestimating success. (abnormalreturns.com)

Mixed media

• How Google' use AI is limiting traffic to independent sites. (nytimes.com)
• Some publishers are considering cutting Google off altogether. (wsj.com)
• Substack has launched a new AI detection tool in partnership with Pangram. (techcrunch.com)
• The Anthropic copyright settlement with authors is final. (arstechnica.com)
• An example of AI killing a old school web site. (stephenfollows.com)

Podcasts

• Barry Ritholtz talks with Jason Wenk, founder and CEO of Altruist. (ritholtz.com)
• Miriam Gottfried and Telis Demos talk with Brent Sullivan about tax-aware long-short strategies. (wsj.com)
• Daniel Crosby talks with Cullen Roche, author of "Your Perfect Portfolio." (standarddeviationspod.com)

The biz

• Goldman Sachs ($GS) wants in on the long-short SMA business. (riabiz.com)
• UBS wants to be valued like a money manager, not a bank. (ft.com)
• Vanguard is upping its outreach to financial advisers. (riabiz.com)

Advisers

• RIA M&A is running at a good clip, but there has been a shift. (citywire.com)
• How to build a sustainable document retention process. (kitces.com)
• Why fee conversations can be fraught. (xyplanningnetwork.com)
• What kinds of clients do you want to work with? (bestinterest.blog)
• Do you in wealth management? Sign up for our advisor-exclusive Talking Wealth newsletter. (talkingwealthpod.com)
• Should a financial adviser have their own adviser? (youtube.com)

Sectors

• Why banks are leading. (trendlabs.com)
• Chip makers are sucking capital from the hyperscalers. (axios.com)

AI

• We live in a world with multiple capable AI models. (stratechery.com)
• It's possible to 'poison' open source models with bad training data. (futurism.com)

Stay in touch

• Don't miss a thing! Sign up for our daily e-mail newsletter. (abnormalreturns.com)
• Do you in wealth management? Sign up for our advisor-exclusive Talking Wealth newsletter. (talkingwealthpod.com)

Coffee

• That coffee habit of yours seems to be good for your heart. (wsj.com)
• Yemeni coffeehouses are having a moment. (theconversation.com)

Economy

• Some signs of improvement in the manufacturing economy. (bonddad.blogspot.com)
• Four questions about the American economy including 'Why hasn’t the housing market led to a recession?' (awealthofcommonsense.com)

Earlier on Abnormal Returns

• Adviser links: fee conversations. (abnormalreturns.com)
• What you missed in our Sunday linkfest. (abnormalreturns.com)
• Top clicks last week on Abnormal Returns. (abnormalreturns.com)

Mixed media

• London isn't building enough housing. (wsj.com)
• The cost of of living in Miami how rivals New York City. (wealthmanagement.com)
• This nearly deserted Alaskan island still gets subsidized internet service. (propublica.org)

Quant stuff

• Why multi-strategy hedge funds are so keen to capture trades from smaller rivals. (bloomberg.com)
• A round-up of recent academic research including 'The Signal beneath the Calm: Benford's Law and the Latent Fragility of Liquidity-Driven Financial Markets.' (alphainacademia.com)
• Joe Weisenthal and Tracy Alloway talk soccer analytics with Mike Treacy and Joris Bekkers and the parallels to finance. (podcasts.apple.com)
• Why people take note of odd numbers. (klementoninvesting.substack.com)

Personal finance.

• What moves the needle on financial wellness scores. (papers.ssrn.com)
• Some signs that Auto-IRAs are a good thing. (papers.ssrn.com)
• Social Security allowed for geographic mobility of younger generations. (papers.ssrn.com)

Research

• Not surprisingly, being short the stock market over the past decade has been a losing proposition. (morningstar.com)
• How a globally diversified portfolio may not be all that diversified. (rpc.cfainstitute.org)
• Why post-earnings announcement drift persists. (alphaarchitect.com)
• Why you can't extrapolate PE returns into the future. (ludovicphalippou.substack.com)
• How a corporate rebranding can wipe the slate clean. (papers.ssrn.com)
• Should heat be a priced risk? (rpc.cfainstitute.org)

Markets

• When it comes to market charts, denominators matter. (trendlabs.com)
• South Korea has its own share of degens. (reuters.com)

Trading

• Charles Schwab ($SCHW) is cleaning up on increasing trading behavior. (finance.yahoo.com)
• It's hard to ignore the evidence of insider trading in prediction markets. (bloomberg.com)
• Prediction market operators are upping their spending on lobbying. (notus.org)

Technology

• Why tech companies are willing to subsidize smart glasses. (thedispatch.com)
• Why AI companies are buying up pre-2022 books. (404media.co)

Stay in touch

• Don't miss a thing! Sign up for our daily e-mail newsletter. (abnormalreturns.com)
• Do you in wealth management? Sign up for our advisor-exclusive Talking Wealth newsletter. (talkingwealthpod.com)

Canada

• Why Canada may be a tariff test case for the administration. (newsletter.platypuseconomics.com)
• There is a reason why Canadians have a dim view of the U.S. at present. (paulkrugman.substack.com)

Housing

• Baby Boomers are not downsizing in retirement. (wsj.com)
• Younger generations priced out of the housing market are investing elsewhere. (awealthofcommonsense.com)
• Are we overstating the home ownership rate in the U.S.? (axios.com)

Earlier on Abnormal Returns

• Research links: overestimating success. (abnormalreturns.com)
• What you missed in our Monday linkfest. (abnormalreturns.com)
• Adviser links: fee conversations. (abnormalreturns.com)

Mixed media

• These days with enough money you can turn yourself into a 'success.' (ofdollarsanddata.com)
• Every product is an argument to win over customers. (seths.blog)

Markets

• Market participants often worry about stuff that doesn't happen. (tker.co)
• Why don't we talk more about this brutal bond bear market? (etf.com)
• Misallocation of capital is nothing new. (ritholtz.com)

Companies

• The biggest beneficiaries of AI may not be the AI companies. (downtownjoshbrown.com)
• It's easy to overlook key ingredients in industrial staples. (fortunefinancialadvisors.com)
• Everybody loves Costco ($COST). (wsj.com)

AI

• Why Kimi K3 matters, but not as much as you think. (asymmetricalbets.substack.com)
• OpenAI has a big Apple ($AAPL) problem on its hands. (daringfireball.net)
• Why Demis Hassbis' AI regulation memo matters. (sebastianmallaby.substack.com)

Trading

• The rails for 'Brokerage 2.0' are getting laid. (howardlindzon.com)
• Citadel Securities just invested $400 million into Crypto.com. (reuters.com)
• On the risks of perpetual futures. (ft.com)

Conflicts of interest

• It's hard to keep track of all the money flowing into Trump's network of entities. (wsj.com)
• Some evidence that someone in the administration wanted to steer IRS audits. (huffpost.com)
• It's hard to know who's betting on what in Washington DC these days. (wsj.com)
• FCC commissioners regularly accept gifts from regulated companies. (propublica.org)
• Why Congress passed laws to prevent sitting Presidents from putting their image on money. (npr.org)

Stay in touch

• Do you in wealth management? Sign up for our advisor-exclusive Talking Wealth newsletter. (talkingwealthpod.com)
• Don't miss a thing! Sign up for our daily e-mail newsletter. (abnormalreturns.com)

Policy

• The Trump administration is systematically undermining things that drove American economic growth. (theatlantic.com)
• How is the ROAD to Housing Act going to work. (ft.com)
• Why corporations pay so little in taxes in the U.S. (paulkrugman.substack.com)

Economy

• The effective U.S. tariff rate has settling in around 6-7%. (apollo.com)
• The boom in new businesses keeps rolling. (nytimes.com)
• Kevin Warsh should answer this simple question. (stayathomemacro.substack.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)
• What you missed in our Friday linkfest. (abnormalreturns.com)

Mixed media

• The World Cup has been a boon for Kalshi and Polymarket. (cnbc.com)
• Lionel Messi actually lives up to the hype. (nytimes.com)
• Will American fans stick around after the World Cup? (politico.com)
• Why can't the NFL just use the same turf as FIFA? (nytimes.com)
• The winner of the World Cup will be one of the best teams ever. (natesilver.net)

Strategy

• Stock market volatility clusters. (awealthofcommonsense.com)
• A look back at the seven sins of active fund management. (larryswedroe.substack.com)

IPOs

• Just how open is the IPO window? (newcomer.co)
• Weakness in SpaceX ($SPCX) isn't helping. (ft.com)

Apple

• Apple ($AAPL) stock is having a moment. (trendlabs.com)
• Apple ($AAPL) needs to show Apple TV some more love. (sixcolors.com)
• Just how big a market is there for Apple ($AAPL) eyewear? (asymco.com)

Netflix

• Can live programming turn Netflix ($NFLX) around? (variety.com)
• Netflix ($NFLX) has a big YouTube problem. (spyglass.org)

AI

• People are freaking out about the performance of Chinese AI model Kimi K3. (axios.com)
• How open-source AI models should work. (tomtunguz.com)
• ChatGPT is back, sort of. (spyglass.org)

Stay in touch

• Work in wealth management? Sign up for our advisor-exclusive Talking Wealth newsletter. (talkingwealthpod.com)
• Don't miss a thing! Sign up for our daily e-mail newsletter. (abnormalreturns.com)

Cyclospora

• The USDA and CDC have lost thousands of workers in this administration. (prospect.org)
• The CDC lab that tracks cyclospora was downsized by DOGE. (wired.com)
• The sprawling cyclospora outbreak highlights a breakdown in public health. (semafor.com)

Earlier on Abnormal Returns

• What you missed in our Thursday linkfest. (abnormalreturns.com)
• Longform links: detecting AI errors. (abnormalreturns.com)

Economy

• Q2 GDP is tracking around 1.8% growth. (capitalspectator.com)
• It's hard to get inflation down with full employment. (apollo.com)
• The housing market is stuck in neutral. (bonddad.blogspot.com)
• Why produce prices are rising. (theconversation.com)

Mixed media

• How behavioral biases helped England lose to Argentina. (behaviouralinvestment.com)
• Will MLS ever break into the top tier of American pro sports? (wsj.com)
• How Chattanooga FC got a boost from the World Cup. (sportico.com)
• The case against VAR. (theringer.com)

AVs

• When it comes to AVs, humans are still going to human. (financialpost.com)
• Why trial lawyers are lobbying against AVs. (marginalrevolution.com)

Transport

• Abandoning EVs could mean the end of the American auto industry. (nytimes.com)
• How the Texas Department of Public Safety spent more than $4 million on 4 Chevy Tahoes. (thedrive.com)
• It's not inevitable that people will drive more over time. (frontiergroup.org)
• EV chargers are popping up in some unlikely places. (nytimes.com)
• Want to save gas? Drive slower. (phys.org)

Solar

• How distributed solar is changing Pakistan’s energy system. (ember-energy.org)
• The Swiss have proved you can put solar panels between railroad tracks. (goodgoodgood.co)
• Solar is booming in the Philippines. (bloomberg.com)

Energy

• Why the additive model continues to explain global energy use. (coldeye.earth)
• Old batteries are finding new life on the grid. (begiant.ca)
• Wind power projects are being held up by the Pentagon. (grist.org)
• General Fusion is set to become the first publicly listed fusion company. (ft.com)
• America is seeing a jump in heat pump installations. (grist.org)

Wildfires

• Why it's so hard to suppress Canada's wildfires. (wsj.com)
• Wildfire smoke doesn't recognize national borders. (buttondown.com)

National parks

• The National Park Service is sanitizing American history. (msn.com)
• The administration is reducing protections for both the Grand Staircase-Escalante and Bears Ears national monuments in Southern Utah. (axios.com)
• National parks are being starved of funds. (bloomberg.com)

Animals

• Do birds actually enjoy flying? (phys.org)
• Toronto is the home to a lot of raccoons. (lithub.com)
• Do animals experience joy? (psychologytoday.com)

Behavior

• Five insights from Cate Hall's new book, "You Can Just Do Things: How High-Agency People Get What They Want Out of Life." (nextbigideaclub.com)
• A little introspection goes a long way. (auren.substack.com)
• When meditation backfires. (theconversation.com)
• Want to feel better about your life? Clean your car out every week. (artofmanliness.com)

Dementia

• The incidence of dementia seems to be in decline. (marginalrevolution.com)
• How cannabanoids can help treat agitation in dementia patients. (nytimes.com)

Health

• At last measure, 2.6 million people dropped off ACA rolls. (theconversation.com)
• Some evidence that ADHD is related to other health conditions. (wapo.st)
• Atul Gawande on how many lives the cuts in USAID have cost. (newyorker.com)
• Six insights from Dr. Zeke Emanuel's new book,"Eat Your Ice Cream: Six Simple Rules For A Long And Healthy Life (npr.org)
• A smart ring that accurately takes blood pressure readings? Big, if true. (bloomberg.com)

Drugs

• The DEA is cracking down on online ketamine providers. (wsj.com)
• Cigarettes are seeing a bounceback in interest. (washingtonpost.com)
• Why kratom needs regulating. (refractor.io)

Drink

• Do you recognize what qualifies as a single serving of alcohol? (insidehook.com)
• Wildfire smoke isn't great for wine makers. (bnnbloomberg.ca)
• Jeppson’s Malört is going wide. (wsj.com)

Food

• How Jollibee expanded beyond its core chicken business. (thefinancialpen.substack.com)
• Mexican ranchers are feeling the pain of the screwworm. (finance.yahoo.com)
• Coca-Cola's ($KO) Fairlife is offline after a ransomware attack. (engadget.com)
• Widespread food delivery has taken a bite out of the business of pizza. (giftarticle.ft.com)

Sports

• Why pro athletes are coming back from injuries faster than ever. (nytimes.com)
• Kalshi is raking in revenue on the World Cup. (npr.org)
• The fragmentation of sports viewing is frustrating to fans. (wsj.com)
• Poolhouse is TopGolf for billiards. (businesswire.com)
• Chess is having a moment. (axios.com)

Children

• What gym class is for. (fatherly.com)
• Why so few people want to referee youth sports these days. (wsj.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

• This group has wholeheartedly embraced AI slop. (thebulwark.com)
• Who is behind all these AI-generated books? (nytimes.com)

Books

• Mary Childs talks with Eddie Fishman, author of "Chokepoints: American Power in the Age of Economic Warfare." (youtube.com)
• James Pethokoukis talks with Sebastian Mallaby, author of "The Infinity Machine: Demis Hassabis, DeepMind, and the Quest for Superintelligence." (fasterplease.substack.com)
• An excerpt from Leave the "Lights On: How Joyful Decisions Can Save Our Species" by Elizabeth Dunn and Jiaying Zhao. (meaningfulmoney.life)
• Charlie Warzel talks with Ian Bogost, author of "The Small Stuff: How to Lead a More Gratifying Life." (theatlantic.com)

Business

• You can thank John Malone, in part, for the growth in corporate American power (and greed). (thebignewsletter.com)
• A look at just how much the Trump family has invested in defense startups. (washingtonpost.com)

Global

• Ousting Viktor Orban was just the first step. What comes next in Hungary? (giftarticle.ft.com)
• How Russian spies set up camp in Japan. (nytimes.com)

Hobbies

• Younger generations have discovered birding. (theatlantic.com)
• In the age of AI, traditional skills are a refreshing outlet. (aeon.co)

Longreads

• How corporate bond deals get done. (ft.com)
• How ambulance rides got so expensive. (davidoks.blog)
• Why studying the microbiome is challenging. (nytimes.com)
• JFK Jr. is unbowed in his drive to limit childhood immunizations. (reuters.com)
• Why movies don't look as good as they used to. (yakimenko.substack.com)
• Stupidity is not the opposite of intelligence. (nautil.us)

Prediction markets

• Kalshi is going to allow bets on drug trials. (theguardian.com)
• Kalshi is rolling out more features for institutional traders. (semafor.com)
• Trump's teleprompter operator reportedly has been betting on Kalshi on speech outcomes. (abcnews.com)

Finance

• The Bloomberg Terminal is the still the market leader. (ft.com)
• Truth Social is now selling access to its API. (axios.com)

Pharma

• Novo Nordisk ($NVO) is besting Eli Lilly ($LLY) in weight loss pills. (wsj.com)
• Eli Lilly ($LLY) is buying AtaiBeckley which is developing psychedelics for mental health treatment. (cnbc.com)
• Merck's ($MRK) cholesterol pill, Lipfendra, is a blockbuster in waiting. (biopharmadive.com)

AI

• Everybody is converging on the need to regulate AI. (axios.com)
• Are AI executives uniquely at-risk of violence? (wsj.com)
• The Apple-OpenAI suit is going to involve a lot of e-mails. (spyglass.org)

Stay in touch

• Work in wealth management? Sign up for our advisor-exclusive Talking Wealth newsletter. (talkingwealthpod.com)
• Don't miss a thing! Sign up for our daily e-mail newsletter. (abnormalreturns.com)

Video

• Amazon ($AMZN) Prime is leaning into shows based on young-adult fiction. (wsj.com)
• Why Netflix ($NFLX) movies and shows look like slop. (freddiedeboer.substack.com)
• Versant ($VSNT) is remaking 'Fandango at Home.' (hollywoodreporter.com)

Oil

• Global stocks of oil have been effectively drawn down. (ft.com)
• Diesel prices are again over $5 a gallon. (nytimes.com)

Economy

• Retail sales are strong. (bonddad.blogspot.com)
• The Fed's balance sheet won't shrink rapidly. (economist.com)

Earlier on Abnormal Returns

• Longform links: detecting AI errors. (abnormalreturns.com)
• What you missed in our Wednesday linkfest. (abnormalreturns.com)
• Personal finance links: the best upgrade. (abnormalreturns.com)

Mixed media

• Jason Zweig's summer reading list including: Robin Wigglesworth's "A Fabulous Debt: The Epic Story of How Bonds Built the Modern World." (wsj.com)
• Summer reading from Behavioral Scientist including: "The Science of Second Chances: A Revolution in Criminal Justice" by Jennifer Doleac. (behavioralscientist.org)
• A positive review for Liaquat Ahamed's "1873: The Rothschilds, the First Great Depression, and the Making of the Modern World." (gregmankiw.blogspot.com)

Research

• Home bias is a universal problem. (rpc.cfainstitute.org)
• If investors aren't compensated for volatility risk, what are they compensated for? (morningstar.com)
• Bonds are a weak portfolio diversifier, at best. (alphaarchitect.com)
• Not surprisingly, undiversified investments show higher volatility. (mailchi.mp)
• Research shows momentum profits are concentrated during the month. (alphaarchitect.com)
• Shorting ain't easy. (larryswedroe.substack.com)
• JP Morgan Chase ($JPM) researchers are using AI to beat a 60/40 strategy. (finance.yahoo.com)
• A round-up of recent academic research including 'A Machine Learning-based Public Market Equivalent Framework for Estimating Default Risk in Private Credit.' (alphainacademia.com)
• The case for financial literacy education is multi-faceted. (alphaarchitect.com)

Market

• Market concentration is not necessarily a bad thing. (trendlabs.com)
• Why predicting the stock market is so difficult. (behaviouralinvestment.com)
• European investors are warming to the stock market. (klementoninvesting.substack.com)

Data centers

• More data center deals are coming. (wsj.com)
• New York state just paused new data center construction. (techcrunch.com)
• Why farmers and ranchers are often data center opponents. (wsj.com)
• Data center supplies are valuable. Enter thieves. (nytimes.com)

Oil

• Frequent draws have put the U.S. strategic oil reserve at risk. (wsj.com)
• The Iran war is forcing oil producers to look for alternatives to the Strait of Hormuz. (axios.com)
• How Ukraine is taking out Russia's oil refining capacity. (wsj.com)

Stay in touch

• Don't miss a thing! Sign up for our daily e-mail newsletter. (abnormalreturns.com)
• In wealth management? Sign up for our advisor-exclusive Talking Wealth newsletter. (talkingwealthpod.com)

Global

• The rest of the world is disengaging from the United States. (nytimes.com)
• The Gordie Howe International Bridge connecting Detroit and Windsor, Ontario, is set to open on July 27th. (bnnbloomberg.ca)
• Trump has sidelined the State Department. (ft.com)

Economy

• The June CPI report was a welcome respite. (bonddad.blogspot.com)
• Getting down to 2.0% inflation won't be easy. (bloomberg.com)
• Consumer spending remains robust. (capitalspectator.com)

Earlier on Abnormal Returns

• Research links: an emotional burden. (abnormalreturns.com)
• What you missed in our Monday linkfest. (abnormalreturns.com)
• Adviser links: legacy building. (abnormalreturns.com)

Mixed media

• It's not easy to define ultraprocessed food. (slate.com)
• Food companies are reformulating products to offset inflation. Consumers have taken note. (bloomberg.com)
• Do you need to add mayo to your grilling regimen? (slate.com)

Podcasts

• Meb Faber talks with Joseph Moore, author of "How to Get Rich in American History: 300 Years of Financial Advice That Worked (& Didn’t)." (youtube.com)
• Jon Erlichman talks with Barry Ritholtz about the biggest mistakes investors make. (ritholtz.com)
• Peter Lazaroff talks with Elizabeth Dunn, co-author of "Leave the Lights On: How Joyful Decisions Can Save Our Species." (peterlazaroff.com)

Housing

• Housing returns pale in comparison to the stock market. (bloomberg.com)
• AI wealth is driving a boom in the San Francisco housing market. (wsj.com)
• A house is where you make meaning, not money. (melizabethgeorge.substack.com)

Retirement

• There is no 'magic number' you need to hit to retire comfortably. (advisorperspectives.com)
• Returns are not the only consideration in retirement. (awealthofcommonsense.com)

Aging

• How to invest for long-term care. (morningstar.com)
• There's nothing easy about caring for aging parents. (nytimes.com)
• Solo agers are a growing cohort. (npr.org)

Wealth

• Baby Boomer wealth is going to get passed down to the already wealthy. (msn.com)
• How money can relieve misery. (meaningfulmoney.life)

Goals

• Why big audacious goals can backfire. (theguardian.com)
• Why 'in-between' goals are tricky. (readthejointaccount.com)

Personal finance

• Jordan Grumet, "The point of accumulation is not to fund your life after you leave. It is to provide the psychological safety net required to make the leap in the first place." (jordangrumet.substack.com)
• The challenges of the sandwich generation are real. What happens when that phase of life comes to an end? (danhaylett.substack.com)
• Be wary of using AI to make irreversible financial decisions. (theconversation.com)
• People change whether you want them to or not. (readthejointaccount.com)
• Pre-nups are becoming normalized. (wsj.com)
• Don't let money ruing your friendships. (yourbrainonmoney.substack.com)
• Buy productive assets. (ofdollarsanddata.com)

Markets

• How the stock market took over American balance sheets. (awealthofcommonsense.com)
• Just how good are analysts at estimating earnings? (chartkidmatt.com)

Bonds

• The spread on SpaceX ($SPCX) bonds are widening out. (ft.com)
• The iShares 0-3 Month Treasury Bond ETF ($SGOV) is nearing $100 billion in AUM. (etf.com)

Finance

• Stripe, Advent have made an offer to buy PayPal ($PYPL). (reuters.com)
• Nobody really wants to go from quarterly to semi-annual corporate reporting. (mrzepczynski.blogspot.com)

Private assets

• Apollo Global Management ($APO) is nearly unrecognizable from just a few years ago. (bloomberg.com)
• Why you can't just extrapolate PE returns into the future. (ludovicphalippou.substack.com)
• How GPs fund their commitments. (cashandcarried.substack.com)

AI

• Apple ($AAPL) is focused on building chips that can handle AI inference. (spyglass.org)
• Are we stuck with LLMs? (theatlantic.com)
• OpenAI is seemingly building an AI-driven smart speaker. (spyglass.org)

Stay in touch

• Don't miss a thing! Sign up for our daily e-mail newsletter. (abnormalreturns.com)
• In wealth management? Sign up for our advisor-exclusive Talking Wealth newsletter. (talkingwealthpod.com)

Work

• Nobody really knows how exposed different jobs are to AI disruption. (apollo.com)
• When tasks are automated, the remainder of the job changes. (agglomerations.eig.org)
• AI models are always going to lag when it comes to learning human behavior. (forklightning.substack.com)

Economy

• Another decline for PPI in July is unlikely. (bonddad.blogspot.com)
• How an aging population affects the labor participation rate. (bloomberg.com)

Earlier on Abnormal Returms

• Personal finance links: the best upgrade. (abnormalreturns.com)
• What you missed in our Tuesday linkfest. (abnormalreturns.com)
• Research links: an emotional burden. (abnormalreturns.com)

Mixed media

• Russia's vast size used to be a strategic advantage. No longer. (newyorker.com)
• Why it's hard for Ukraine to wean itself off American anti-ballistic missile technology. (nytimes.com)
• How smartphones became a vulnerability for the American military. (giftarticle.ft.com)

Podcasts

• Josh Brown talks with Onur Erzan, President of AllianceBernstein, to discuss what it really takes to serve America's ultra-high-net-worth families. (youtube.com)
• Daniel Crosby talks with Neil Bage who is the founder & CEO of Neurofi Behavioural Intelligence. (standarddeviationspod.com)
• Laurie Santos talks about the benefits of foregoing small talk for something deeper. (podcasts.apple.com)

The biz

• XYPN Sapphire, the corporate RIA lhas already surpassed $1 billion in AUM. (riabiz.com)
• Is Goldman Sachs ($GS) making progress on the custody front? (wealthmanagement.com)
• Fisher Investments is an old school marketing machine. (riabiz.com)

Advisers

• Andrew Samalin, "Fixed income is not a defensive concession. It is a fundamental component of sound portfolio construction." (investmentnews.com)
• Should advisor clients automatically be characterized as accredited? (thedailyupside.com)
• I just received an inheritance. Now what? (kindnessfp.com)
• When an estate plan is too simple. (wealthmanagement.com)
• Is your website clear about your value add? (linkedin.com)
• Some goings on in the RIA space including how Mariner is using Cariloop. (riabiz.com)
• Few books break through in financial space: Belle Burden's "Strangers: A Memoir of Marriage" has. (bloomberg.com)
• How to say no to a client. (xyplanningnetwork.com)

Markets

• 2026 is the year of the momentum stock. (awealthofcommonsense.com)
• Apple ($AAPL) is trading like an anti-AI stock. (finance.yahoo.com)
• Leveraged ETFs are boosting volatility. (cnbc.com)

Banking

• Where Citigroup's ($C) turnaround stands. (ft.com)
• Credit card 'friendly fraud,' via chargebacks, is on the rise. (bloomberg.com)

Stay in touch

• Don't miss a thing! Sign up for our daily e-mail newsletter. (abnormalreturns.com)
• In wealth management? Sign up for our advisor-exclusive Talking Wealth newsletter. (talkingwealthpod.com)

AI

• How does 'ChatGPT Work' actually work? (spyglass.org)
• Why some publishers are looking to opt out of Google Search altogether. (adweek.com)

Costco

• Costco ($COST) is the anti-Amazon. (phenomenalworld.org)
• Why some new Costco locations have affordable housing attached. (nytimes.com)

Earlier on Abnormal Returns

• Adviser links: legacy building. (abnormalreturns.com)
• What you missed in our Sunday linkfest. (abnormalreturns.com)
• Top clicks last week on Abnormal Returns. (abnormalreturns.com)

Economy

• What would it take for the Fed to hike rates in 2026? (stayathomemacro.substack.com)
• Shrinking the Fed's balance sheet won't be easy. (bloomberg.com)

Mixed media

• There are three ways to disagree with a colleague. (casnocha.com)
• How to deal with high conflict people. (artofmanliness.com)
• Be more like Willie Nelson. (livealittle.substack.com)

EVs

• The spike in gasoline prices helped drive EV sales. (businessinsider.com)
• EV batteries are lasting a lot longer than expectations. (wsj.com)
• It's getting easier to charge an EV away from home, but it's still not foolproof. (axios.com)
• New American vehicles are increasingly hybrid-powered. (advisorperspectives.com)
• Ionna is rapidly building out its charging network. (axios.com)

Transport

• E-bike injuries are on the rise. (axios.com)
• Incentives work. How congestion pricing has pulled cars off the roads of Manhattan. (apollo.com)
• How a simple white line changed driving. (wsj.com)
• Transport companies are preparing for higher heat conditions. (ft.com)
• Robo-taxi passengers can be pretty gross. (futurism.com)

Energy

• Luckily for the world, the price of solar, wind and batteries continue to fall. (newyorker.com)
• Ukraine and Iran are lessons to countries about the fragility of fossil fuel supplies. (billmckibben.substack.com)
• How banning offshore wind projects is costing jobs. (motherjones.com)
• This tribe is still pushing a utility scale solar project forward. (npr.org)
• A talk with Bill McKibben, author of “Here Comes the Sun: A Last Chance for the Climate and a Fresh Chance for Civilization.” (nytimes.com)
• The world needs more transformers. (ig.ft.com)

Environment

• The story behind Climate.us. (grist.org)
• How Europe is adapting to extreme heat. (ft.com)
• Signs of chaos behind the scenes at the U.S. Forest Service. (wapo.st)

Animals

• The silver-cheeked puffer fish is devastating the Caribbean. (bloomberg.com)
• New Zealand is at the forefront of lower emission milk production. (economictimes.indiatimes.com)
• Sheep do just fine grazing under solar voltaic panels. (electrek.co)

Travel

• Travel to the U.S. has yet to rebound. (bloomberg.com)
• Barcelona really doesn't want more tourists. (nytimes.com)

Technology

• What we lose with one-click search results. (nytimes.com)
• The world is increasingly at risk of a big solar storm. Here is a plan to protect electronics. (wsj.com)
• How to turn an old iPhone into a dumb phone for your kids. (wired.com)
• Why MAGA types hate Wikipedia. (nytimes.com)

Science

• Why Mount Etna is unique for a volcano. (sciencedaily.com)
• Five insights from Lixing Sun's new book, "On the Origin of Sex: The Weird and Wonderful Science of Reproduction." (nextbigideaclub.com)

Fertility

• Some states are looking to limit access to fertility services. (axios.com)
• Why we need limits on sperm donors. (technologyreview.com)

Public health

• The number of babies not getting a Vitamin K shot are on the rise. (nytimes.com)
• The CDC has stopped collecting some vital health data. (theconversation.com)
• Still no sign of a link between acetaminophen use in pregnancy and autism. (sciencenews.org)

Health

• Why ZYN is everywhere these days. (nytimes.com)
• Why are OTC drugs with phenylephrine still on the shelf? (theargumentmag.com)
• Five insights from Stephanie Romiszewski's new book, "Think Less, Sleep More: From Panic & Perfectionism to Stress-Free Sleep." (nextbigideaclub.com)

Fitness

• For sprains and strains, RICE is out. (wapo.st)
• Move your body for your brain as you age. (npr.org)
• Why you should be skeptical of the 'blue zones' hype. (newyorker.com)

Cocaine

• The street price of cocaine in the U.S. is at multi-decade lows. (theatlantic.com)
• Cocaine use does a number on the brain. (404media.co)

Drink

• The truth about (moderate) drinking. (derekthompson.org)
• How alcohol taxes vary across the country, by state. (axios.com)

Food waste

• California has banned 'sell by' dates to reduce food waste. (insurancejournal.com)
• Why more surplus food doesn't get donated to those in need. (theconversation.com)

Food

• How Driscoll's turned berries into a year-round staple. (nytimes.com)
• Why your store-bought ice cream, may not actually be 'ice cream.' (medium.com)
• Why everyone is adding psyllium powder to their diets. (nytimes.com)
• Smucker's bet on Hostess has not paid off. (wsj.com)

Gambling

• Arnold Ventures is going to help fund studies of sports gambling. (cnbc.com)
• How opening a pack of Pokemon cards is now akin to gambling. (barrons.com)

Sports

• Is a reliance on technology ruining the World Cup? (bigtechnology.com)
• Why Lionel Messi rarely runs. (kottke.org)

Movies

• The best movies of 2026 (so far) including 'Obsession.' (variety.com)
• Big screen comedies are on life support. (thebulwark.com)
• Just how impactful is the Black List? (stephenfollows.com)
• Sonny Burch talks with David Thomson, author of "A Sudden Flicker of Light: A Revisionist History of Movies." (thebulwark.com)

Entertainment

• What we lose when physical media goes away. (ft.com)
• A great example why contract language matters. (billboard.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

• What Kong gets right about dogs. (whyisthisinteresting.substack.com)
• The Jim Irsay Collection sold for a record $105 million. (indystar.com)
• 5 1/2 hard earned lessons from 55 years including 'Run your own race.' (capitalallocators.com)

Markets

• Some reasons to be bearish including frothy retail behavior. (awealthofcommonsense.com)
• Low correlations should make for better stock picking, right, right?!? (tker.co)

Companies

• Apple ($AAPL) sued OpenAI for IP theft.. (spyglass.org)
• SK Hynix had a strong opening day in the U.S. (morningstar.com)

AI

• Why Zuck is launching 'Meta Cloud.' (spyglass.org)
• How Cloudflare ($NET) plans to combat AI scraping. (semafor.com)
• Crypto companies continue to pivot to AI. (bloomberg.com)
• What ultimately happens if frontier models become 'commodity infrastructure'? (ben-evans.com)

Slop

• AI slop has come for coding. Who will clean up the mess? (giftarticle.ft.com)
• Social media is increasingly filled with AI slop. (404media.co)
• How to spot AI slop. (futurism.com)

Science

• The NSF plans to cut core science funding programs. (nature.com)
• America's top universities are enrolling 15% fewer PhD students. (nytimes.com)
• When you dismantle the scientific funding ecosystem it's hard to rebuild it. (whyisthisinteresting.substack.com)
• The administration is putting ideology over science. (noahpinion.blog)
• Independent science has been 'an American virtue.' (marginalrevolution.com)
• Seriously, this is really bad for American science. (danieldrezner.substack.com)

CDC

• The CDC cut funding for FoodNet which tracked pathogens like cyclospora. (huffpost.com)
• Why it's been difficult to pin down the source of the cyclosporiasis outbreak. (washingtonpost.com)
• Our understanding of how Cyclospora spreads is limited. (theatlantic.com)

State and local

• Calls to cut property taxes abound, but states have to generate tax revenue one way or another. (axios.com)
• The Trump administration continues to deny disaster relief for blue states. (politico.com)
• Chicago's public pension funds are 'near insolvency.' (ft.com)

Immigation

• The flow of refugees to the U.S. has essentially stopped. (notus.org)
• How noncitizen spouses are getting caught up in immigration sweeps. (npr.org)
• Alex Pretti and Renee Good's murders have yet to be properly investigated. (theatlantic.com)
• This claim used to dispute birthright citizenship is bunk. (thebulwark.com)

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 our exclusive Talking Wealth newsletter. (talkingwealthpod.com)

Defense

• The US military lost dozens of Reaper drones in missions over Iran. (arstechnica.com)
• A look inside Helsing's drone factory in Germany. (nytimes.com)
• Trump hasn't killed NATO, yet. (theatlantic.com)

Economy

• Jevon's paradox in the workplace. (apollo.com)
• Is AI investment immune to higher interest rates? (econbrowser.com)
• AI doesn't outlaw the laws of economics. (rockandturner.substack.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)

Mixed media

• Vinold Khosla is reportedly buying the Seattle Seahawks for $9.6 billion. (variety.com)
• Pro sports seems to move in only one direction: more games, competition, etc. (theatlantic.com)
• FIFA is thinking about expanding the World Cup to 64 teams. (nytimes.com)

Markets

• Real yields are at multi-decade highs. (axios.com)
• Equities now make up a record percentage of U.S. household wealth. (bloomberg.com)

Finance

• Passive investing killed the mediocre fund manager. (ft.com)
• When it comes to private credit allocations, big banks giveth and can taketh away. (ft.com)

Prediction markets

• Goldman Sachs ($GS) warned employees to limit their betting on prediction markets to sports and entertainment trades. (finance.yahoo.com)
• Polymarket wants to add margin trading. (coindesk.com)

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 our exclusive Talking Wealth newsletter. (talkingwealthpod.com)

SK Hynix

• The SK Hynix was the biggest foreign offering in U.S. history. (finance.yahoo.com)
• What SK Hynix hopes to gain from a U.S. listing. (barrons.com)

SpaceX

• The SpaceX ($SPCX) IPO was a big win for venture capital, but narrowly distributed. (pitchbook.com)
• The historical scale of the SpaceX, OpenAI and Anthropic IPOs is off the charts. (techcrunch.com)

Data centers

• How data centers avoid environmental reviews. (floodlightnews.org)
• Why megascalers may want to locate in Canada. (bnnbloomberg.ca)
• Americans are pretty united in their hatred of data centers. (newrepublic.com)

Netflix

• Netflix ($NFLX) is kind of flailing, strategy-wise. (wsj.com)
• Netflix ($NFLX) viewers aren't turning into Season 2 of shows. (bloomberg.com)
• Netflix ($NFLX) has an engagement problem. (spyglass.org)

Housing

• The bi-partisan 21st Century ROAD to Housing Act is set to become law. (axios.com)
• The American housing market is stuck in neutral. (bonddad.blogspot.com)
• Americans don't want to live in old houses. (agglomerations.eig.org)
• China's property market is still in the red. (apollo.com)

Earlier on Abnormal Returns

• What you missed in our Thursday linkfest. (abnormalreturns.com)
• Longform links: expensive promises. (abnormalreturns.com)

Mixed media

• What it means to have fun in American these days. (thewhitepages.net)
• Did you buy something online? Get ready for a rush of e-mails. (wapo.st)
• Books are now getting 'As Seen on TikTok' stickers. (newyorker.com)

Podcasts

• Peter Lazaroff talks with Haley Sacks, author of "Future Rich Person." (peterlazaroff.com)
• Christine Benz and Amy Arnott talk with Cody Garrett and Sean Mullaney co-authors of a new book "Tax Planning To and Through Early Retirement." (morningstar.com)
• Scott Galloway talks with Nick Maggiulli about building wealth at every stage of life. (youtube.com)
• Brett McKay talks with Margie Lachman, author of "Primetime: A New Vision for Midlife." (artofmanliness.com)

Housing

• First-time homebuyers are up against it. (fa-mag.com)
• Sub-3% mortgages were a historical anomaly. (mrzepczynski.blogspot.com)
• A record number of young Americans live with a parent. (wsj.com)

Retirement

• Retirement is more than just reaching a 'number.' (morningstar.com)
• Tony Isola, "Sometimes it takes a lot of energy not to work." (tonyisola.com)
• How to think about long term care. (jordangrumet.substack.com)

Personal finance

• I just received an inheritance. Now what? (kindnessfp.com)
• What does $1 million in liquid net worth buy you these days? (awealthofcommonsense.com)
• Why asking your financial advisor if they are a fiduciary is no longer enough. (advisorperspectives.com)
• Why you can't rely on AI for financial advice. (larrykotlikoff.substack.com)
• Hard work alone won't make you rich. (dariusforoux.com)
• Play your own game. (meaningfulmoney.life)

Strategy

• Even when you are 'doing nothing' when investing you are 'doing something.' (behaviouralinvestment.com)
• Most of the time the stock market goes up. (awealthofcommonsense.com)

Companies

• Is OpenAI still on track to go public in 2026? (morningstar.com)
• For better or worse, Palantir ($PLTR) is viewed as a MAGA affiliate. (ft.com)
• Jeff Bezos’ Blue Origin raised outside capital at a $130 billion valuation. (cnbc.com)

SK Hynix

• Tim Culpan, "SK Hynix’s operations in China are deeper and broader than many realize." (culpium.com)
• A tale of the tape: SK Hynix is listing in the U.S. (morningstar.com)

Global

• How Trump tariffs reshuffled global trade relationships. (klementoninvesting.substack.com)
• America's great power relied on its network of allies. That is going away. (danieldrezner.substack.com)
• Crypto makes evading economic sanctions easier for outlaw nations. (wsj.com)

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 our exclusive Talking Wealth newsletter. (talkingwealthpod.com)

ACA

• ACA premiums are set to jump (big) next year. (axios.com)
• Where ACA enrollment is falling fastest. (axios.com)

Economy

• Why gasoline prices fall slower than oil prices. (newsletter.platypuseconomics.com)
• You can only bend the will of the market for so long. (semafor.com)

Earlier on Abnormal Returns

• Personal finance links: buying permission. (abnormalreturns.com)
• What you missed in our Tuesday linkfest. (abnormalreturns.com)
• Research links: data quality. (abnormalreturns.com)

Mixed media

• Why you have to create something to learn from it. (panoptica.com)
• Does it matter if something is AI-written if it's not mean to be read in the first place? (tedthoughts.substack.com)
• Why AI companies are hiring philosophers. (nytimes.com)

Books

• An excerpt from “Little Blue Dot: How GPS Shaped the Modern World" by Katherine Dunn. (washingtonpost.com)
• Tyler Cowen talks with Joel Mokyr, author of "Two Paths to Prosperity: Culture and Institutions in Europe and China, 1000–2000." (conversationswithtyler.com)
• An excerpt from "A World Appears: A Journey into Consciousness" by Michael Pollan. (laphamsquarterly.org)
• A Q&A with Jake Johnson author of "Unstaged Grief: Musicals and Mourning in Midcentury America." (daily.jstor.org)

AI

• Cameron Armstrong, "The frontier labs increasingly seek the privilege and power of a utility without accepting the public obligations that come along with it." (wysr.xyz)
• What brings the AI build out to a halt? (groundbrkr.com)

Medicine

• Is AI going to take over the job of writing doctor's notes? (nytimes.com)
• On the history of the random controlled trial and why big data is the modern equivalent. (asteriskmag.substack.com)

Environment

• Global warming is just one sign of climate change. (bloomberg.com)
• Why carbon capture won't work at scale. (projects.propublica.org)
• Who bears the costs of higher commercial property insurance? (brookings.edu)

Europe

• How Europe grew tired of placating Trump. (wsj.com)
• Europe now recognizes that it needs to handle its own defense. (giftarticle.ft.com)

Society

• It's getting harder (and more expensive) to have fun in America. (bloomberg.com)
• Costco's ($COST) $1.50 hot dog is still the best deal in America. (theringer.com)

History

• How England in the 1860s learned to live without American cotton. (engelsbergideas.com)
• How Amsterdam invented the fire department. (worksinprogress.co)

Longreads

• An in-depth look at how a financial scam worked. (wsj.com)
• Is it harder today for a company to stay 'invisible'? (colossus.com)
• Why the U.S. still can't make nitrile gloves. (bloomberg.com)
• Canadian PM Mark Carney has been thrust into a global role he didn't anticipate. (wsj.com)
• The food truck mafia around the National Mall is brutal. (washingtonian.com)
• A history of the screwworm. (construction-physics.com)
• New generations are becoming less literate. (theatlantic.com)

Markets

• Big changes in market structure are afoot including 'Retail has become the structural bid.' (citadelsecurities.com)
• Ten charts going into the second half of 2026. (bilello.blog)
• Some market insights including 'Since the end of 2024, the South Korean index is up 339.5% total return.' (novelinvestor.com)

ETFs

• The iShares Nasdaq 100 ETF ($IQQ) has launched. (thedailyupside.com)
• Do leveraged ETFs represent a systemic risk? (advisorperspectives.com)

Technology

• What it means to work alongside humanoid robots. (wsj.com)
• Technology is coming for your eyes. (asymco.com)
• Why a keyboard is an inferior way to interact with AI. (spyglass.org)

Companies

• The new Paramount ($PSKY) is going to be debt-laden. (wsj.com)
• Nvidia ($NVDA) is trading at lesss than 20x foward earnings. (msn.com)
• Is Buc-ee's a tad too litigious? (wsj.com)

Prediction markets

• Congressional staffers are still trying to bet on elections. (npr.org)
• How two sharps make money in prediction markets. (podcasts.apple.com)

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 our exclusive Talking Wealth newsletter. (talkingwealthpod.com)

Work

• Younger workers are less reluctant to take leave for mental health. (bloomberg.com)
• A look at the financial situation of long-time Costco ($COST) hourly workers. (wsj.com)
• No matter whether you work remote or not, carve out time for focused work. (hbr.org)

Economy

• Still no sign of a pickup in weekly initial unemployment claims. (bonddad.blogspot.com)
• Companies are still passing through tariff-related costs. (libertystreeteconomics.newyorkfed.org)
• What if the payoff from AI just takes longer? (apollo.com)

Earlier on Abnormal Returns

• Longform links: expensive promises. (abnormalreturns.com)
• What you missed in our Wednesday linkfest. (abnormalreturns.com)
• Personal finance links: buying permission. (abnormalreturns.com)

Mixed media

• A society can only handle so many *ssholes at once. (thegrimhistorian.substack.com)
• Why the murder rate continues to fall. (theconversation.com)
• Gen X is simply a smaller cohort. (axios.com)

Books

• Phil Bak talks with Aaron Brown about his new book "Wrong Number: How to Extract Truth From a Blizzard of Quantitative Disinformation" (philbak.substack.com)
• A review of "Stock Market Maestros: The Winning Habits, Strategies, and Mindsets of the World’s Best Investors" by Lee Freeman-Shor and Clare Flynn Levy. (rpc.cfainstitute.org)

AI

• How LLMs can condense historical data at scale. (nber.org)
• Even with AI tools, humans are going to human. (papers.ssrn.com)

Private credit

• Research into the fragility of semi-liquid private credit funds. (papers.ssrn.com)
• Is private credit a systematic risk? (econofact.org)

Research

• Is an elevated VIX really a buy signal? (washingtonpost.com)
• Traders value data they pay for. (klementoninvesting.substack.com)
• The markets have taken care of another anomaly, i.e. 'overnight drift.' (papers.ssrn.com)
• Niels Kaastrup-Larsen talks trend following with Mark Rzepczynski. (toptradersunplugged.com)
• Small things can affect your decision making in the moment.` (klementoninvesting.substack.com)
• A round up of recent academic research including 'What Investors Disagree About: LLM-Decomposed Retail Disagreement and the Cross-Section of Stock Returns.' (alphainacademia.com)
• Why CEOs need to watch their tone. (ft.com)

Markets

• U.S. stock returns are rarely normal. (ofdollarsanddata.com)
• Betting against U.S. stock has historically been a loser. (optimisticallie.com)
• Market bubbles are as old as markets. (acadian-asset.com)

Finance

• State Street SPDR Nasdaq 100 ETF ($QNDX) launches tomorrow. (bloomberg.com)
• The laws of economics have caught up to private equity. (mailchi.mp)
• Cancer and immune disease-focused biotechs are leading in VC fundraising. (biopharmadive.com)

AI

• Thanks to chips, Samsung's profit jumped 20x year-over-year. (spyglass.org)
• Why Sam Altman wants to make a deal with the administration. (technologyreview.com)
• What is Meta's ($META) path forward on AI? (stratechery.com)
• Different models have different 'worldviews.' (tomtunguz.com)

Economy

• Just how much oil prices are off their highs. (axios.com)
• Why yields are up around the globe. (ft.com)
• Global economic policy uncertainty is now highly correlated. (klementoninvesting.substack.com)

Earlier on Abnormal Returns

• Research links: data quality. (abnormalreturns.com)
• What you missed in our Monday linkfest. (abnormalreturns.com)
• Adviser links: other wealthy people. (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

• A record number of Americans say they are using GLP-1 drugs. (news.gallup.com)
• Getting GLP-1 drugs online is now trivially easy. (bloomberg.com)
• Do GLP-1s have direct vascular effects? (refractor.io)

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)

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

• The Mag 7 is underperorming YTD. (awealthofcommonsense.com)
• Small caps are not. (wsj.com)

Finance

• Why dividend investing is dead. (flyoverstocks.com)
• Robinhood ($HOOD) defined Brokerage 1.0. 'Brokerage 2.0' is already here. (howardlindzon.com)
• Institutional investors are picking up the slack in private credit. (ft.com)

Crypto

• Strategy's ($MSTR) strategy is looking shaky. (wsj.com)
• Strategy ($MSTR) just sold more Bitcoin. (theblock.co)

AI

• DRAM production is highly concentrated among a few players. (ft.com)
• Memory producers are sucking the oxygen out of the room. (axios.com)
• American AI companies are wary of Chinese companies using model distillation to catch up. (nytimes.com)
• An investment in SoftBank increasingly a bet on AI and Masayoshi Son. (ft.com)

Ukraine

• Ukraine is running low on missile interceptors. (nytimes.com)
• Venture capital has yet to embrace Ukraine's defense industry. (pitchbook.com)

Earlier on Abnormal Returns

• Adviser links: other wealthy people. (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)
• Are you a financial advisor? Sign up for our exclusive Talking Wealth newsletter. (talkingwealthpod.com)

Mixed media

• How to overcome burnout including 'Stop treating rest As a productivity hack.' (bakadesuyo.com)
• How to make WFH work better for you. (twopct.com)
• Americans are socializing in person less. (axios.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)

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)

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)

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)

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)

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

• 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)

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)

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)

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)

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. (talkingwealth.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)

Markets

• U.S. corporate profits are at a record high. (axios.com)
• Earnings are growing, but its the wrong companies. (ft.com)

Prediction markets

• Polymarket's annualized run rate now exceeds $1 billion. (cnbc.com)
• Donald Trump Jr. got a free stake in Kalshi back in early 2025. (msn.com)

ETFs

• South Korea is experiencing the downside of leveraged ETFs. (etf.com)
• A lot of ETF 'innovation' these days is just throwing stuff up against the wall. (citywire.com)

AI

• James Pethokoukis talks AI and work with Prof. Erik Brynjolfsson. (fasterplease.substack.com)
• Larry Kotlikoff talks with Sebastian Mallaby, author of "The Infinity Machine." (larrykotlikoff.substack.com)
• Sean Illing talks with Charlie Warzel about how AI is killing off the human internet. (podcasts.apple.com)

Defense

• A look at the damage Iran was able to inflict on an American naval base in Bahrain. (wsj.com)
• The Pentagon has reinstated mandatory influenza shots. (apnews.com)
• Air power alone doesn't win wars. (theatlantic.com)

Economy

• Lower gasoline prices were a boost to consumer sentiment. (wsj.com)
• A lot of Americans have forgotten what a real recession looks like. (tedlamade.substack.com)

Earlier on Abnormal Returns

• What you missed in our Thursday linkfest. (abnormalreturns.com)
• Longform links: building taste. (abnormalreturns.com)
• We are rapidly running out of road to kick the proverbial Social Security can. (abnormalreturns.com)
• 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)

Mixed media

• The signs of a Taylor Swift wedding at Madison Square Garden are growing. (nytimes.com)
• At present the vibes in New York City are impeccable. (whyisthisinteresting.substack.com)
• New York City really IS different. (youngmoney.co)

Auto safety

• How big trucks and SUVs are more likely to kill pedestrians. (nytimes.com)
• The NHTSA doesn't count deaths that occur in parking lots and driveways. (bloomberg.com)

EVs

• The second wave of EV pickups are here. (wsj.com)
• How the war in Iran boosted EV sales. (ft.com)
• Hands on with the new Slate Truck. (arstechnica.com)
• Is anyone going to buy a Slate Truck? (wsj.com)

Energy

• The U.S. needs a better grid, not necessarily a lot more power. (worksinprogress.co)
• On the prospects for a sodium-ion battery era. (ft.com)
• How solar panels over water canals work. (nytimes.com)
• Peak Energy and GM ($GM) have entered a new partnership manufacture sodium-ion batteries for energy storage systems. (motherjones.com)
• There's nothing green about wood pellet power. (grist.org)

Climate

• How hot is too hot for humans? (theconversation.com)
• A site created by former NOAA employees, Climate.us is now live. (npr.org)

Science

• Chicago wants to be a major player in quantum computing. (wsj.com)
• Young biomedical scientists now say they are more likely to leave the U.S. (papers.ssrn.com)

Travel

• Las Vegas is pricing out many of its former visitors. (wsj.com)
• Hotel owners want a bigger cut of Marriott Rewards revenue. (wsj.com)

Technology

• It's okay to be skeptical of AI, but not dismissive. (noahpinion.blog)
• AR glasses are inevitable. (wsj.com)
• Is 'brain rot' real? (sciencenews.org)

Health

• A look at a new effort to reduce/eliminate respiratory infections. (blog.interceptfund.com)
• A vaccine against norovirus would be a game changer. (news.yale.edu)
• How a breath test could be used to diagnose pneumonia in minutes. (technologyreview.com)
• Haitian immigrants are a key cog in the nursing home system. (kffhealthnews.org)
• Just FYI, GLP-1s have not been tested in children. (wsj.com)

Fitness

• How going all-in on health optimization can backfire. (twopct.com)
• A Q&A with Chris Ballard, author of "The Plunge: Maverick Swimmers, an Unlikely Quest, and the Transformative Power of Cold Water." (awfulannouncing.com)
• Are GLP-1s performance enhancing drugs? (theatlantic.com)

Drink

• The United States of Bourbon is the first-ever blend of bourbon from all 50 states. (insidehook.com)
• What it's like to (accidentally) quit drinking. (newyorker.com)

Protein

• A year ago, people were predicting the return of the screwworm. (theatlantic.com)
• Americans have clocked higher beef prices. (axios.com)
• America has a whey protein shortage. (wsj.com)
• The egg shortage is over. (nytimes.com)

Food

• The debate over ultra-processed foods needs better data. (theatlantic.com)
• Why comparing food delivery costs is so difficult. (newsletter.platypuseconomics.com)
• How kombuchas differ. (sciencedaily.com)

Soccer

• Elite U.S. soccer looks different than the rank-and-file. (theguardian.com)
• Pablo Torre talks with Chris Wittyngham about the late soccer journalist Grant Wahl. (podcasts.apple.com)
• How FIFA's semi-automated offside technology works. (technologyreview.com)

Entertainment

• Why Google ($GOOGL) invested in A24. (pitchbook.com)
• Sports leagues have a fraught relationship with online clips. (cnbc.com)
• Sonny Burch talks with Ben Fritz of the WSJ about the relationship between Big Tech and Hollywood. (thebulwark.com)
• What onscreen job is the most dangerous? (stephenfollows.com)

College

• What poorer students need to understand about college. (ofdollarsanddata.com)
• The MBA is losing steam among recruiters. (wsj.com)

Children

• Public schools have yet to prepare for falling enrollment. (bloomberg.com)
• The South is the only place where the population of children is increasing. (axios.com)

Earlier on Abnormal Returns

• What you missed in our Friday linkfest. (abnormalreturns.com)
• We are rapidly running out of road to kick the proverbial Social Security can. (abnormalreturns.com)
• Are you a financial advisor? Sign up for our advisor-only Talking Wealth newsletter. (talkingwealthpod.com)
• Don't miss a thing! Sign up for our daily e-mail newsletter. (abnormalreturns.com)

Mixed media

• How AI will be used to justify the 'enshittification' of various products and services. (oldroperesearch.substack.com)
• 70 facts from the first half of 2026 including: 'Half of U.S. millennials have at least one tattoo.' (news.theideafarm.com)
• RIP, Om Malik. (om.co)

Books

• Five insights from "How to Win a Trade War: An Optimistic Guide to an Anxious Global Economy" by Soumaya Keynes and Chad Bown. (nextbigideaclub.com)
• A Q&A with Cory Doctorow about his book, "The Reverse Centaur’s Guide to Life After AI." (arstechnica.com)
• Nate Silver talks with Seth Masket, author of the new book, “The Elephants in the Room: How Trump Voters Seized the Party from Republican Leaders.” (natesilver.net)
• An excerpt from "The Lost Founder: James Wilson and the Forgotten Fight for a People’s Constitution" by Jesse Wegman. (theatlantic.com)

Profiles

• A profile of Canadian PM Mark Carney. (politico.com)
• The Tulsi Gabbard story keeps getting weirder. (washingtonpost.com)
• What is Bob Iger's legacy at Disney ($DIS)? (ft.com)
• A profile of Diana Russini. (nytimes.com)
• Why Bill Watterson, author of 'Calvin and Hobbes' resisted commercialization. (therepublicofletters.substack.com)

Business

• How Eli Lilly ($LLY) came to dominate the market for weight loss drugs. (bloomberg.com)
• What it's like to roll out a new version of an established consumer product like Tide. (wsj.com)
• How Citadel continues to benefit from the demise of Enron. (giftarticle.ft.com)

AI

• Why China is so focused on robots. (giftarticle.ft.com)
• Data center operators go to great lengths to hide what they are doing from locals. (newrepublic.com)
• It's easier to automate a job than make it irrelevant. (davidoks.blog)

Longreads

• There is not a single 'affordability crisis.' (thedispatch.com)
• Many Americans are in denial about their care later in life. (theatlantic.com)
• Humans aren't going to live on Mars. (noemamag.com)
• What we lose when we optimize our lives to avoid death. (derekthompson.org)
• How the trust helped create the modern world. (springbett.substack.com)
• You can't simply outsource your taste to others. (yourbrainonmoney.substack.com)
• Why the crossword puzzle endures. (slate.com)

Markets

• Gold has given up all its 2026 gains. (axios.com)
• Oil prices are back down to pre-war levels. (semafor.com)
• Bitcoin is well off its highs. (ft.com)

Fund management

• Activist investors are on a cold streak. (semafor.com)
• The State Street SPDR Portfolio Nasdaq 100 ETF ($QNDX) is here. (thedailyupside.com)

Apple

• Apple ($AAPL) has announce price increases for Macs and iPads. (wsj.com)
• Even Apple ($AAPL) can't dodge rising memory prices. (spyglass.org)
• A look at iPhone prices over time. (asymco.com)

Economy

• The PCE shows a 4.1% jump from a year earlier. (axios.com)
• Signs that the wealth effect is holding up consumer spending. (bonddad.blogspot.com)
• New business formation is surging. (marginalrevolution.com)

Earlier on Abnormal Returns

• Longform links: building taste. (abnormalreturns.com)
• We are rapidly running out of road to kick the proverbial Social Security can. (abnormalreturns.com)
• What you missed in our Wednesday linkfest. (abnormalreturns.com)
• Personal finance links: family MVPs. (abnormalreturns.com)
• 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)

Mixed media

• People are now flocking to the Lincoln Memorial Reflecting Pool. (newyorker.com)
• Two things drive algae growth: heat and nutrient runoff. (washingtonpost.com)
• Algae is non-partisan. (npr.org)