Podcasts

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

The biz

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

TradePMR

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

Taxes

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

Advisers

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

Research

• Just how activist are activist investors? (ft.com)
• Which analysts add the most value? (klementoninvesting.substack.com)
• How much of S&P 500 profits is being driven by investment gains? (substack.com)
• What happens when you properly measure the value of all firms in the U.S.? (papers.ssrn.com)
• What you can learn from what fund managers say about their own performance. (klementoninvesting.substack.com)
• Revisiting the performance of active mutual funds. (morningstar.com)
• The "lottery ticket effect" helps explain retail trading behavior. (alphaarchitect.com)
• A round-up of recent research on risk management including 'How Fear Beats Greed: The Impact of Positive and Negative Sentiment on Global Stock Markets.' (capitalspectator.com)
• How do prediction markets do in practice? (quantpedia.com)

Markets

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

ETFs

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

AI

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

Immigration

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

Law

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

States

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

Economy

• What's behind the boost in payrolls? (wsj.com)
• Real yields are headed higher. (econbrowser.com)
• A look the cap table of the US of A. (thetwocents.substack.com)
• The economic schedule for the comgng week. (economicweekly.substack.com)

Earlier on Abnormal Returns

• Top clicks this week on Abnormal Returns. (abnormalreturns.com)
• What you missed in our Saturday linkfest. (abnormalreturns.com)
• Saying no to algorithmic slop. (abnormalreturns.com)
• Don't miss a thing! Sign up for our daily e-mail newsletter. (abnormalreturns.com)

Mixed media

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

Markets

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

ETFs

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

Private assets

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

IPOs

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

Prediction markets

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

Economy

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

Earlier on Abnormal Returns

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

Mixed media

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

Autos

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

Transport

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

Energy

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

Animals

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

Apple

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

Behavior

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

Ebola

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

Melanoma

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

Cancer

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

Health

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

Drink

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

Cattle

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

Food

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

Entertainment

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

Sports

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

College

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

Children

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

Earlier on Abnormal Returns

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

Mixed media

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

Books

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

AI

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

Longreads

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

Research

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

Strategy

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

IPOs

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

ETFs

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

Berkshire Hathaway

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

Companies

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

VCs

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

Economy

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

Earlier on Abnormal Returns

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

Mixed media

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

Podcasts

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

Housing

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

Retirement

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

Taxes

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

Tax-advantaged savings

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

Work

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

Personal finance

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

Markets

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

Finance

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

Private assets

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

Companies

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

The Pentagon

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

Economy

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

Earlier on Abnormal Returns

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

Mixed media

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

May 2026

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

IPOs

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

ETFs

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

Berkshire Hathaway

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

AI

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

Europe

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

Economy

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

Earlier on Abnormal Returns

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

Mixed media

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

Podcasts

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

Schwab

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

Practice management

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

Taxes

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

Advisers

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

Autos

• The Ferrari ($RACE) Luce doesn't look like a Ferrari. (spyglass.org)
• Waymo is rolling out 100 Ojai vehicles into its autonomous commercial fleet. (sherwood.news)
• Consumers are flocking to Costco ($COST) to buy gas. (cnbc.com)

Energy

• Renewable energy installations are re-accelerating. Hopefully 2025 was a blip. (arstechnica.com)
• Hawaii wants to close a oil-fired power plant. The EPA won't let it. (grist.org)
• Coal mining is inherently dangerous. (buttondown.com)

Environment

• A water crisis out West is nearing. (nytimes.com)
• Why the world’s oceans are rising at an accelerating pace. (sciencedaily.com)
• What if Antarctica's ice was melting faster than climate models have estimated? (thecooldown.com)
• How satellites are already changing the atmosphere. (futurism.com)
• Meteorologists were central to D-Day success. (npr.org)

Science

• What's happening to American science. (science.org)
• Undersea volcanoes keep changing the sea floor. (quantamagazine.org)

Animals

• How the mere presence of humans affect animal behavior. (smithsonianmag.com)
• How beavers transformed this landscape for the better. (npr.org)
• Outdoor lights may be making mosquito season longer. (science.org)
• Travelers are clamoring for a sighting of an Iberian lynx. (wsj.com)
• How artists have portrayed dogs over time. (newyorker.com)
• Capybaras have made a fateful choice. (slate.com)

AI

• Nonfiction book publishers are up against it, AI-wise. (nymag.com)
• AI is changing how police do their work. (axios.com)
• How to use AI to sell your house. (nytimes.com)

Behavior

• Why we resist the 'good enough life.' (newyorker.com)
• Some practical tips on how to use your phone less. (nymag.com)
• Immunotherapy may offer a completely new way to treat people with difficult-to-treat depression. (sciencedaily.com)
• Five insights from "In a Good Place: How the Spaces Where We Live, Work, and Play Can Help Us Thrive" by Leidy Klotz. (nextbigideaclub.com)
• How talking about mental health openly can backfire. (theconversation.com)

Pandemics

• It's hard to argue we are better prepared for the next pandemic. (newyorker.com)
• Why the FDA downplayed this Covid vaccine report. (nbcnews.com)
• The only way fight an epidemic is together. (theatlantic.com)

Public health

• Overdose rates are falling nationwide. (npr.org)
• While children are falling off Medicaid rolls. (axios.com)
• More people in the U.S. are going hungry now than during the depths of the COVID-19 pandemic. (npr.org)

Health

• GLP-1 drug use may be changing users' brains. (washingtonpost.com)
• Preliminary evidence that gene-editing could permanently lower cholesterol levels. (nytimes.com)
• How GammaTiles help slow the recurrence of brain tumors. (wsj.com)
• Lenacapavir is landing in countries unable to reliably distribute it. (nytimes.com)
• Why some Gen Zers are embracing tanning. (nytimes.com)

Fitness

• What's the right (fitness) metric? (thewaiterspad.com)
• Five insights from "Walk: Rediscover the Most Natural Way to Boost Your Health and Longevity―One Step at a Time" by Dr. Milica McDowell and Dr. Courtney Conley. (nextbigideaclub.com)

Beef

• Why the U.S. cattle herd is at a 75-year low. (npr.org)
• It's hard to run a barbecue joint when beef prices are soaring. (wapo.st)

Food

• Rising prices are causing Americans to eat out less often. (npr.org)
• Florida's agriculture industry is under a weather siege. (politico.com)
• Farmers are looking for ways to make money that have nothing to do with food. (bloomberg.com)

Sports

• Why MLB owners want a salary cap. (nytimes.com)
• Youth sports is putting family finances in danger. (tonyisola.com)
• Pickleball growth seems to be cooling off. (axios.com)
• How Princeton turned its lacrosse program around. (sportico.com)

College

• Cal State is going all-in on AI. (npr.org)
• Computer science isn't doomed. (theatlantic.com)
• How AI complicates everything in the classroom. (ninaeichacker.substack.com)
• Why you needs a HIPAA and FERPA release for your college age kids. (thecollegefinanciallady.com)
• College should be fun. (theatlantic.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)

Mixed media

• Times are tough for real estate agents. (wsj.com)
• How to experiment your way to a better life. (experimentalliving.substack.com)
• People hate programmatic ads. (cjr.org)

Markets

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

Podcasts

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

Fund management

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

Venture capital

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

Companies

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

Ethics

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

Law

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

Crime

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

Diplomacy

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

Policy

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

Economy

• Some reasons for poor consumer sentiment. (awealthofcommonsense.com)
• Employee compensation keeps falling as a percentage of GDI. (wsj.com)
• The economic schedule for the coming week. (economicweekly.substack.com)

Earlier on Abnormal Returns

• Top clicks this week on Abnormal Returns. (abnormalreturns.com)
• What you missed in our Saturday linkfest. (abnormalreturns.com)
• Don't miss a thing! Sign up for our daily e-mail newsletter. (abnormalreturns.com)

Mixed media

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

Prediction markets

• Kalshi is launching the American (political) Power Index. (axios.com)
• Kalshi and Coinbase ($COIN) are now offering perpetual futures. (cnbc.com)
• On the state of insider trading on prediction markets. (bloomberg.com)

AI

• Anthropic has run past OpenAI, valuation-wise. (pitchbook.com)
• Inference-focused companies are generating revenues and investor interest. (newcomer.co)
• Companies are coming to terms with their spending on tokens. (wsj.com)

Housing

• New Zealand home prices are down some 16% from their peak. (bloomberg.com)
• Housing is a resource like any other for the economy. (buttondown.com)

Economy

• Looking for evidence that AI is taking jobs. (apollo.com)
• Eight measures of U.S. prices. (econbrowser.com)
• The crackdown on immigration is pushing population growth toward 0%. (axios.com)

Earlier on Abnormal Returns

• What you missed in our Thursday linkfest. (abnormalreturns.com)
• Longform links: moving the algorithm. (abnormalreturns.com)
• Don't miss a thing! Sign up for our daily e-mail newsletter. (abnormalreturns.com)

Mixed media

• The USDA is cutting back on bee research. (theconversation.com)
• Domestic demand for honey is up. (msn.com)
• But production is down. (sherwood.news)

Podcasts

• Jack Forehand and Justin Carbonneau talk with Ben Carlson, author of "Risk and Reward." (podcasts.apple.com)
• Peter Lazaroff talks with Phil Toews, author of "The Behavioral Portfolio." (peterlazaroff.com)
• Christine Benz and Amy Arnott talk asset allocation with Adam Grossman. (morningstar.com)
• Rick Ferri talks with Robin Wigglesworth of FT Alphaville fame. (bogleheads.podbean.com)

Investing

• Ben Carlson, "Investing is a form of regret minimization." (awealthofcommonsense.com)
• How direct indexing works. (wsj.com)

Housing

• Good luck trying to figure out how home equity investment contracts work. (bloomberg.com)
• A look at what factors affect housing affordability. (nytimes.com)

401(k) plans

• Update your 401(k) beneficiaries. (morningstar.com)
• Two simple 401(k) lessons for a new college grad. (crr.bc.edu)

529 accounts

• Why 529 accounts make sense for just about everyone. (moneychangeseverything.substack.com)
• What to do with an overfunded 529 account. (advisorperspectives.com)

Lists

• Five common financial questions, answered. (contessacapitaladvisors.com)
• Five questions to ask, if you can't ask someone how much money they make. (marketwatch.com)
• Four things you really shouldn't worry about. (morningstar.com)
• Four easy financial wins. (thedailyupside.com)

Work

• Darius Foroux, "Most negative criticism doesn’t come from people who want to help you improve." (dariusforoux.com)
• The case for starting your career in a smaller city. (marketwatch.com)

Personal finance

• Jordan Grumet, "The first year after any major life change is often confusing, emotional, and profoundly incomplete." (jordangrumet.substack.com)
• Even if you hire a financial advisor you need to have an understanding of money. (jordangrumet.substack.com)
• AI models are not a trusted fiduciary. Be careful. (abnormalreturns.com)
• Money is nothing without meaning. (awealthofcommonsense.com)
• The limits of healthspan are real. (meaningfulmoney.life)
• What is Coast FIRE? (whitecoatinvestor.com)

Markets

• Corporate profit margins keep rising. (chartkidmatt.com)
• Micron ($MU) is the fastest company, by far, from $500 billion to $1 trillion in market cap. (wsj.com)

ETFs

• Charles Schwab ($SCHW) and Vanguard are neck-and-neck when it comes to ETF fees. (citywire.com)
• The Roundhill Memory ETF ($DRAM) is the fastest ETF to $10 billion and $11 billion... (ft.com)

SpaceX

• FTSE Russell wants in on the SpaceX bandwagon. (ft.com)
• Do data centers in space make sense? (stratechery.com)

Eli Lilly

• Eli Lilly ($LLY) is on a buying spree outside of its obesity business. (msn.com)
• Eli Lilly ($LLY) is buying three vaccine startups. (wsj.com)

AI

• How the bests analysts use AI. (optimisticallie.com)
• Do we really want to interact with 'digital twins'? (om.co)
• How writers can use AI without letting AI actually write. (slate.com)

Cybersecurity

• The Cybersecurity and Infrastructure Security Agency has been gutted. (axios.com)
• What Mythos is teaching security researchers. (politico.com)
• Inside the UK's A.I. Security Institute. (nytimes.com)

Economy

• The K-shaped economy is real. (bonddad.blogspot.com)
• What voters are saying about higher prices. (gelliottmorris.com)
• Hannah Horvath, "In times of economic precarity, consumption has become the place where people can exercise agency." (yourbrainonmoney.substack.com)

Earlier on Abnormal Returns

• Personal finance links: measuring wealth. (abnormalreturns.com)
• What you missed in our Tuesday linkfest. (abnormalreturns.com)
• Research links: waves of disruption. (abnormalreturns.com)
• Don't miss a thing! Sign up for our daily e-mail newsletter. (abnormalreturns.com)

Mixed media

• The CFTC has been hollowed out just in time for prediction markets to take over. (nytimes.com)
• On the crossover between sports books and prediction markets, think parlays. (ft.com)
• Prediction markets are now spoiling reality TV shows. (variety.com)

Books

• Five insights from "The Secret History of Gold: Myth, Money, Politics, and Power" by Dominic Frisby. (nextbigideaclub.com)
• An excerpt from "The Science of Second Chances" by Jennifer Doleac. (behavioralscientist.org)
• FIve insights from "Europe: A New History" by Roderick Beaton. (nextbigideaclub.com)

Business

• A look inside the American mattress industry. (worseonpurpose.com)
• Barnes & Noble is a rare PE-led retail turnaround. (bloomberg.com)
• Why Japanese companies look so different. (davidoks.blog)

AI

• AI data centers keep moving forward despite widespread opposition. (nytimes.com)
• Phoenix is a hub for call centers. AI is coming. (wsj.com)
• How Big Consulting is facing an AI threat. (giftarticle.ft.com)

Ukraine

• How Ukraine is going old school to knock down Russian drones. (newyorker.com)
• How Ukraine has turned the war around. (giftarticle.ft.com)

Art

• How books get turned into movies. (lithub.com)
• How to make a living as an artist. (essays.fnnch.com)

Longreads

• A deep dive into prediction markets trading. (nytimes.com)
• The Strait of Hormuz is one of many global shipping choke points. (ig.ft.com)
• On the rise of build-to-rent housing and why limits won't positively affect home ownership. (construction-physics.com)
• Is increased antitrust activity the solution to all our problems? (theatlantic.com)
• A warming planet is making for new, deadlier microorganisms. (newyorker.com)
• On the rise of right wing politics and immigration in Europe. (unchartedterritories.tomaspueyo.com)
• Tom Wooldridge, "No one comes through childhood untouched or unscathed." (aeon.co)
• One day will be the last day you [enter activity here]. (nytimes.com)

Markets

• South Korea is a big bet on AI. (axios.com)
• Retail traders seem to be riding the AI winners, for now. (sherwood.news)

Strategy

• Don't let your investment strategy burn you out. (awealthofcommonsense.com)
• On the parallels between the AI boom to the railroad boom. (apersai.substack.com)
• "Bull markets last years. Crashes last weeks. You spend 80% of your investing life feeling slightly stupid for owning the diversifier, and maybe 20% feeling vindicated." (rcmalternatives.com)

M&A

• Who's going to buy IMAX ($IMAX)? (variety.com)
• The Fertitta family is buying Caesars Entertainment ($CZR). (axios.com)
• Why a SpaceX and Tesla ($TSLA) merger seems inevitable. (blindsquirrelmacro.com)

ETFs

• The Vanguard S&P 500 ETF ($VOO) is closing in on $1 trillion in AUM. (etf.com)
• Is DFA for sale? (citywire.com)

Companies

• Apple's ($AAPL) new CEO has a R&D dilemma. (ft.com)
• It's increasingly difficult to avoid Amazon ($AMZN). (theconversation.com)

AI

• Corporate America is seeing rapidly rising AI costs. (axios.com)
• Do we need a GPU futures market? (semafor.com)

Privacy

• How U.S. troops can be tracked with commercial adtech services. (techcrunch.com)
• It's not you. More websites require CAPTCHA. (futurism.com)
• Defending your privacy is a full-time job. (theconversation.com)
• How AI is helping scammers. (nytimes.com)

Economy

• The PCE rose 3.8% from the same time last year. (cnbc.com)
• Still no sign of a pickup in initial jobless claims. (bonddad.blogspot.com)
• The personal savings rate has plummeted. (axios.com)
• Kevin Warsh has an inflation problem. (theconversation.com)

Earlier on Abnormal Returns

• Longform links: moving the algorithm. (abnormalreturns.com)
• What you missed in our Wednesday linkfest. (abnormalreturns.com)
• Personal finance links: measuring wealth. (abnormalreturns.com)
• Don't miss a thing! Sign up for our daily e-mail newsletter. (abnormalreturns.com)

Mixed media

• Jack Raines, "Every platform is extracting from their audience rather than serving them." (youngmoney.co)
• Art auction houses are not neutral venues, they sculpt demand and supply. (nytimes.com)
• Hype videos are the new press release. (nytimes.com)

Research

• Why factor rebalancing matters. (alphaarchitect.com)
• A model of the global credit factor. (libertystreeteconomics.newyorkfed.org)
• AI disruption is here. How to sort the winners from the value traps. (sparklinecapital.com)
• How housing and investment are tradeoffs. (econbrowser.com)
• What factors explain the mortgage spread? (bostonfed.org)
• A round-up of recent research including 'Social Media Algorithms as Information Intermediaries.' (alphainacademia.com)
• Procrastinators, on average, are less likely to have an estate plan in place. (papers.ssrn.com)
• Collectible returns as being procyclical. (papers.ssrn.com)

Markets

• Rates are up all over the world. (axios.com)
• Bonds and stocks are living in two different worlds. (mrzepczynski.blogspot.com)
• Are one-time effects driving S&P 500 earnings? (axios.com)
• The ERP is essentially zero. (wsj.com)

Finance

• Public shareholders of SpaceX have no say in company governance. (ft.com)
• The SEC and CFTC are largely on the sidelines. (nadig.com)
• How the rise of AI driving M&A activity. (giftarticle.ft.com)
• How startup dilution works. (ilyastrebulaev.substack.com)

ETFs

• There are now more ETFs than stocks in the U.S. (apollo.com)
• ETFs are taking share from mutual funds. What about hedge funds? (bloomberg.com)
• The SEC isn't ready for prediction markets-backed ETFs. (thedailyupside.com)

Real estate

• The Avalonbay ($AVB) and Equity Residential ($EQR) merger is not coming from a position of strength. (wsj.com)
• Charlotte is struggling with the consequences of rapid growth. (axios.com)
• Downtown Denver has an office vacancy problem. (wsj.com)
• Why Idaho is allowing for smaller lot sizes. (msn.com)
• Is the Midwest population exodus finally over? (wsj.com)

Global

• Regime change and Cuba. What's the plan? (danieldrezner.substack.com)
• The U.S. has lost credibility with Europe. (theatlantic.com)

Economy

• National home prices, per Case-Shiller, rose 0.7% year-over-year. (calculatedrisk.substack.com)
• What companies are saying about the consumer and AI. (thetranscript.substack.com)
• The stock market did fine under Jerome Powell. (carsongroup.com)
• Fixing inflation isn't easy. (semafor.com)

Earlier on Abnormal Returns

• Research links: waves of disruption. (abnormalreturns.com)
• Adviser links: living well. (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)

Mixed media

• AI has broken trust between teachers and students. (newyorker.com)
• You can't run a literary contest and ignore AI. (theargumentmag.com)
• Humans have experiences. AI doesn't. (ofdollarsanddata.com)

Stocks

• Just how much AI is driving the stock market. (morningstar.com)
• Looking ahead to 2028 earnings. (tker.co)

Rates

• What to make of rising interest rates. (awealthofcommonsense.com)
• Long term TIPS are now yielding near 3%. (bobeunlimited.substack.com)

ETFs

• The vast majority of new ETF launches are actively managed, and likely high fee. (wsj.com)
• The Tema Space Innovators ETF ($NASA) is now the largest space ETF on the market. (etf.com)
• Dave Nadig, Sumit Roy, Eric Balchunas and Todd Sohn talk ETF flows and more. (etf.com)
• The case for investing in the two parts of the Vanguard Total World Stock ETF ($VT). (elmwealth.com)
• It's never been easier to launch an ETF. (etfcentral.com)

SpaceX

• Good luck to the managers of the SpaceX ($SPCX) IPO. (wsj.com)
• An investment in SpaceX is above all a bet on Elon. (wsj.com)
• What do investors get for $1.75 trillion? (newsletter.fiscal.ai)
• SpaceX as conglomerate. (semafor.com)
• An interesting tidbit from the SpaceX S-1. (pitchbook.com)
• What words show up most often in the SpaceX S-1? (readtrung.com)
• Mega IPOs don't have a great short-term track record. (barrons.com)

Google

• How Google ($GOOGL) has upended how the web works. (axios.com)
• Google ($GOOGL) is reviving an architectural wonder in downtown Chicago. (bloomberg.com)

Retail

• Fast delivery is changing shopping habits. (axios.com)
• Everything is a subscription business these days. (thehustle.co)

Defense

• Ukraine is now a player in the global arms market. (wsj.com)
• The world's militaries are focusing on AI. (ft.com)

Immigration

• How the administration is hurting Dreamers. (axios.com)
• Confusion reigns among those seeking a green card. (semafor.com)
• How limiting low-skill immigration backfires. (klementoninvesting.substack.com)

Taxes

• Why IRS Direct File was killed. (defector.com)
• We are now seeing the costs of the OBBBA. (econbrowser.com)
• To fix Social Security you need to adjust taxes and benefits. Equity investments at this point are just window dressing. (crr.bc.edu)

Influence

• Sanctioned by the U.S. government? Call this guy. (bloomberg.com)
• How a $5 million donation to MAGA Inc. was quickly followed by flavored vapes being approved. (wsj.com)

Law

• State attorneys general are stepping up their anti-trust activities. (politico.com)
• The DOJ has scrubbed mentions of January 6th defendants from its website. (theguardian.com)
• The DOJ is now an active participant in conspiracy theories. (theatlantic.com)
• Courts are filling up with AI-generated lawsuits. (futurism.com)
• An actual win for free speech. (arstechnica.com)

Trump

• What's behind all those stock trades in Trump's personal account? (bloomberg.com)
• It's hard to distinguish where Trump begins and the government ends. (axios.com)
• Trump's DC perfectly reflects his character. (slate.com)

Policy

• Why does the Office of the Director of National Intelligence still exist? (thebulwark.com)
• Oh the irony. The Office of Federal Student Aid is hiring. (npr.org)
• Why cities should invest in more, better street lights. (theatlantic.com)

Economy

• The post-pandemic vibecession made sense, but why has it persisted? (theatlantic.com)
• How higher diesel prices are hitting businesses. (chicago.suntimes.com)
• Inflation expectations are ticking higher. (econbrowser.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)
• AI models are not a trusted fiduciary. Be careful. (abnormalreturns.com)
• Don't miss a thing! Sign up for our daily e-mail newsletter. (abnormalreturns.com)

Mixed media

• We are living in the age of a 'post-virtue style of politics.' (derekthompson.org)
• How independence created a new American philanthropy. (theconversation.com)
• Missing men and the American marriage market. (npr.org)

Long-short SMAs

• Michael Batnick talks with Brent Sullivan of Tax Alpha Insider. (youtube.com)
• How Fidelity and Schwab ($SCHW) are throttling demand for long-short SMAs. (riabiz.com)

The biz

• Farther has now raised $276 million in capital. (riabiz.com)
• How is Facet Wealth doing? (riabiz.com)
• Big RIAs are buying up alternative asset research outfits. (pitchbook.com)

AI

• How to respond to a client that fact checks you with AI. (meghaanlurtz.substack.com)
• Is AI going to allow advisers to be more productive or go deeper? (investmentnews.com)
• Claude is not your attorney. (citywire.com)
• AI models are not trusted fiduciaries. (abnormalreturns.com)

Practice management

• Advisers have not had to feel the fee pain of an extended market decline. (advisorperspectives.com)
• What happens if the SEC moves the registration threshold to $1 billion in AUM? (kitces.com)

Advisers

• How focusing on a target market helps build referrals. (kitces.com)
• How to create for yourself an information diet. (xyplanningnetwork.com)
• Boomerang children is a form of intra-generational transfer. (investmentnews.com)
• On the downsides when a couple retires at the same time. (thinkadvisor.com)
• A Q&A with Ben Carlson, author of "Risk and Reward: How to handle market volatility and build long-term wealth." (thinkadvisor.com)
• Everybody needs reminders about the basics. (advisorperspectives.com)

Autos

• Nearly 30% of cars sold globally this year will be electric or plug-in hybrid. (semafor.com)
• Carvana ($CVNA) is getting into new car sales. (wsj.com)
• Waymo is still working out some kinks. (futurism.com)
• Confessions of a former robo-taxi hater. (sherwood.news)

Transport

• (Good) reviews are coming in for the new Tesla ($TSLA) Semi. (nytimes.com)
• Los Angeles has a new subway line. Are riders ready to jump on board? (newyorker.com)
• How wind-assisted cargo ships could cut emissions. (newscientist.com)

Energy

• A geothermal renaissance is here. (reasonstobecheerful.world)
• The Trump administration is now delaying onshore wind projects in Texas. (texastribune.org)
• How to keep solar panels clean. (thecooldown.com)

Environment

• The Gulf of Mexico is rapidly warming. (thecooldown.com)
• Space launches have a big environmental impact. (theconversation.com)
• Why Maine's wild blueberry growers are struggling. (grist.org)

Animals

• Why do humpback whales keep their mouths open? (smithsonianmag.com)
• Beluga whales can recognize themselves. (smithsonianmag.com)

Travel

• Canadians are not returning to the U.S. any time soon. (cbc.ca)
• How (American) tourists flatten experiences for everyone. (thedial.world)
• Don't be this tourist. (aftermath.site)

Science

• The Trump administration is still throttling science funding. (npr.org)
• ArXiv to ban researchers if they submit AI slop. (404media.co)

Technology

• How good is the code that AI writes? (wsj.com)
• Short story prize winners outed as AI-generated. (theguardian.com)
• The case for using a RSS reader. (sixcolors.com)

Aid

• The end of U.S. aid is coming along side higher costs for fuel, fertilizer and food. (nytimes.com)
• How cuts to USAID are playing out. (grist.org)

GLP-1s

• Eli LIlly's ($LLY) new weight loss drug, retatrutide, seems to be the most powerful yet. (biopharmadive.com)
• GLP-1 use may slow cancer progression. (wsj.com)

Health

• Nurse practitioners are in great demand. (wsj.com)
• There is no vaccine for the current Ebola outbreak. (cen.acs.org)
• On the prospect of actually banning tobacco products. (theatlantic.com)
• Five insights from shares five key insights from her new book, "Beyond Inheritance: Our Ever-Mutating Cells and a New Understanding of Health" by Roxanne Khamsi. (nextbigideaclub.com)

MAHA

• RFK Jr. has fired the leaders of the U.S. Preventive Services Task Force. (politico.com)
• MAHA loves Zyn. (wsj.com)

Drink

• The world is awash in bourbon. (wsj.com)
• Teens today are drinking less. (axios.com)

Seed oils

• Swapping seed oils for saturated fat isn't a great trade for cardiac patients. (statnews.com)
• This NFL coach is focused on eliminating seed oils from the cafeteria. (brobible.com)

Food

• Beans are back. (npr.org)
• Why everybody wants whey. (ft.com)
• Is bone broth really a superfood? (economist.com)
• Pepper is getting a brand makeover. (fastcompany.com)
• Just about everyone needs more fiber in their diet. (npr.org)
• Cocoa prices are way off their highs. Chocolate prices aren't going down. (axios.com)
• Rye uses significantly less water than other common rotational winter crops like alfalfa and barley. (reasonstobecheerful.world)
• The Italian beef sandwich is now the state sandwich of Illinois. (variety.com)

Sports

• The Enhanced Games are a sign of the times. (technologyreview.com)
• The health implications of faster than ever fastballs. (newyorker.com)
• Why soft tissue injuries seem to be on the rise in the NBA. (theringer.com)
• The revamped Indianapolis Motor Speedway Museum is impressive. (wsj.com)

College

• How AI has upended college. (nytimes.com)
• College students aren't fans of AI. (slate.com)
• The college enrollment cliff is here. (newyorker.com)
• A positive review for "How to Rule the World: An Education in Power at Stanford University" by Theo Baker. (feld.com)

Children

• Start high school later in the day! (theargumentmag.com)
• How to deal with your children leaving home. (buttondown.com)

Earlier on Abnormal Returns

• What you missed in our Friday linkfest. (abnormalreturns.com)
• AI models are not a trusted fiduciary. Be careful. (abnormalreturns.com)
• Don't miss a thing! Sign up for our daily e-mail newsletter. (abnormalreturns.com)

Mixed media

• CBS News Radio is going silent. (theconversation.com)
• Why hundreds of local news sites are blocking Wayback Machine. (niemanlab.org)
• The Washington Post is flailing. It traces back to Jeff Bezos. (danieldrezner.substack.com)

Books

• A Q&A with Alex Mayyasi about "Planet Money: A Guide to the Economic Forces That Shape Your Life." (sherwood.news)
• An excerpt from "Like, Follow, Subscribe: Influencer Kids and the Cost of a Childhood Online." by Fortesa Latifi. (theatlantic.com)

Immigration

• The U.S. used to take pride in welcoming refugees. No more. (newyorker.com)
• What happens to people deported to Honduras. (theatlantic.com)

Sports

• Wright Thompson on Steve Kerr and his return to Golden State. (espn.com)
• What is the difference between performing on Broadway or with the Savannah Bananas? (nytimes.com)
• What is the appeal of the NFL Draft? (newyorker.com)

Longreads

• A big profile of Chris Hohn, manager of TCI, arguably one of the most successful hedge funds. (giftarticle.ft.com)
• Why London is struggling. (giftarticle.ft.com)
• It's going to take awhile to fix Americas rare earth mineral problem. (bloomberg.com)
• It's hard to overestimate the impact of drone warfare. (noahpinion.blog)
• Looking forward to a time when Ukraine isn't at war. (bloomberg.com)
• AI 'companions' actually seem kind of annoying. (thewalrus.ca)
• A sign of the times: jury rooms are getting contentious. (wsj.com)
• It's not your imagination, gambling ads really are everywhere these days. (wapo.st)

Finance

• Investment bank Lincoln International ($LCLN) went public. (pitchbook.com)
• What you need to know about evergreen funds. (caia.org)

ETFs

• What you need to know about the Roundhill Memory ETF ($DRAM). (morningstar.com)
• The big ETF players are not afraid of taking each other on. (pionline.com)
• The vast majority of ETF flows are in cheap passive funds, but high fee active funds are surging. (morningstar.com)

SpaceX

• The SpaceX S-1 has dropped. (axios.com)
• Starlink is the jewel of SpaceX. (om.co)
• The VC returns on the SpaceX IPO would be unprecedented. (pitchbook.com)
• Anthropic is paying SpaceX $1.25 billion per month through May 2029. (axios.com)
• SpaceX has a Starship lauch coming up. (npr.org)

AI

• Putting Nvidia's ($NVDA) profits into some sort of perspective. (spyglass.org)
• Anthropic is going to generate an operating profit in Q2?!? (wsj.com)
• Google ($GOOGL) has some inherent advantages in AI. (axios.com)
• Patrick O'Shaughnessy talks with Gavin Baker about the state of AI. (youtube.com)
• An OpenAI IPO filing is imminent. (axios.com)

Sports

• Private equity involvement in youth sports has made things worse. (theatlantic.com)
• The online gambling industry is restructuring itself. (frontofficesports.com)
• The Enhanced Games are all about selling supplements and peptides. (sherwood.news)

Russia

• The Kremlin is now flooding BlueSky with propaganda. (nytimes.com)
• Jude Law does a good job portraying Putin in 'The Wizard of the Kremlin.' (theatlantic.com)
• The challenges of rebuilding Ukraine. (klementoninvesting.substack.com)

Economy

• Walmart ($WMT) warned about the stresses on lower income consumers. (sherwood.news)
• Americans are starting new businesses, but are not hiring many employees. (bloomberg.com)
• Jobless claims keep ticking lower. (bonddad.blogspot.com)

Earlier on Abnormal Returns

• Longform links: more conscious investors. (abnormalreturns.com)
• What you missed in our Wednesday linkfest. (abnormalreturns.com)
• AI models are not a trusted fiduciary. Be careful. (abnormalreturns.com)
• Personal finance links: the caregiving penalty. (abnormalreturns.com)
• Don't miss a thing! Sign up for our daily e-mail newsletter. (abnormalreturns.com)

Mixed media

• Spotify ($SPOT) is getting into the AI-generated podcast game. (engadget.com)
• What's left of Vox Media after the acquisition of its podcast network? (adweek.com)
• Alexa now has AI-powered podcasts. (variety.com)
• Why all the video podcasts feel the same. (onethingnewsletter.substack.com)

Crypto

• Binance can't seemingly quit Iran. (engadget.com)
• This crypto company has spent a lot to armor their executives vehicles. (ft.com)

Oura

• Oura Health Oy has filed to go public. (cnbc.com)
• How Oura has succeeded in the wellness space. (bloomberg.com)

SpaceX

• SpaceX is a governance story. (buttondown.com)
• SpaceX is not like the rest of the Mag 7. (news.crunchbase.com)

AI

• Noah Brier, "AI is a mirror, not a crystal ball." (whyisthisinteresting.substack.com)
• The launch of LLMs means more books listed on Amazon ($AMZN). (nber.org)
• Typos are now an indicator of humanity. (theatlantic.com)

Privacy

• Websites know a lot about you. To learn just how much, click here. (sinceyouarrived.world)
• Reddit ($RDDT) really wants you to use their app. (arstechnica.com)
• We're all being recorded all the time. (theatlantic.com)
• ChatGPT wants your bank info. (techcrunch.com)

Defense

• The U.S. paid a high cost, in interceptors, defending Israel during Operation Epic Fury. (wapo.st)
• We're not getting the full story on Iran war casualties. (theatlantic.com)
• The U.S. lost dozens of Reaper drones in the Iran conflict. (bloomberg.com)

Earlier on Abnormal Returns

• What you missed in our Thursday linkfest. (abnormalreturns.com)
• Longform links: more conscious investors. (abnormalreturns.com)
• AI models are not a trusted fiduciary. Be careful. (abnormalreturns.com)
• Don't miss a thing! Sign up for our daily e-mail newsletter. (abnormalreturns.com)

Mixed media

• You can't change the world, but you can change your own behavior. (yourbrainonmoney.substack.com)
• Cynicism is the enemy of wonder. (thequietlife.net)
• Hindsight bias is real. (davidnroberts.com)

Podcasts

• Christine Benz and Amy Arnott talk with Bill Bengen, author of " A Richer Retirement: Supercharging the 4% Rule to Spend More and Enjoy More." (morningstar.com)
• Josh Brown talks Haley Sacks, aka Mrs. Dow Jones, author of "Future Rich Person: The New Rules for Building Wealth" (youtube.com)
• Peter Lazaroff on why investment management isn't a commodity. (peterlazaroff.com)

Housing

• How parents are helping children buy their first houses. (wsj.com)
• Why retirees are reluctant to sell their houses: taxes. (nytimes.com)
• How divorce affects the price received when selling a house. (papers.ssrn.com)

AI

• Be careful using AI for tax research. (obliviousinvestor.com)
• Please don't upload your sensitive financial documents to AI. (cnn.com)

Advice

• Research shows the vast majority of advice from financial influencers is 'low quality.' (ft.com)
• On the downside of using an accountant for all your financial needs. (whitecoatinvestor.com)

Health care

• Out of pocket costs for health care are going up for retirees. (crr.bc.edu)
• The caregiving penalty is real. (businessinsider.com)

Personal finance

• It's not your imagination, being an American is harder these days. (jordangrumet.substack.com)
• On the importance of using all the tools at your disposal. (humbledollar.com)
• Why taxing wealthy people is harder than it looks. (ofdollarsanddata.com)
• A growing number of Americans have 'super prime' credit scores. (wsj.com)
• Annuities are coming to 401(k) plans. What to know. (morningstar.com)
• What generational wealth really means. (jordangrumet.substack.com)
• Don't pretend money doesn't matter. (contessacapitaladvisors.com)
• Everything ends. Act accordingly. (meaningfulmoney.life)

Markets

• If you think the U.S. stock market is concentrated, check out South Korea. (ft.com)
• Just how much software and semiconductor stocks have disengaged. (chartkidmatt.com)
• Nvidia ($NVDA) is now more than 5% of the MSCI All-Country World Index. (ft.com)

Strategy

• A good story trumps a good chart. (awealthofcommonsense.com)
• Nobody knows the future. (trendlabs.com)

Crypto

• Physical crimes against crypto holders continue to rise around the world. (novelinvestor.com)
• Why you should watch Ben McKenzie's documentary, 'Everyone Is Lying to You for Money.' (motherjones.com)

Food

• How Sysco's ($SYY) acquisition of Restaurant Depot would affect restaurants. (punchdrink.com)
• Coke Zero and Diet Coke are duking it out for dominance. (wsj.com)
• Americans hate factor farming, but love cheap protein. (vox.com)

Museums

• U.S. museums have a maintenance deficit. (theartnewspaper.com)
• What is 'museum fatigue'? (mentalfloss.com)
• How to tour a museum. (artofmanliness.com)

Energy

• Oil price futures are at their highs. (newsletter.platypuseconomics.com)
• A good reminder: the world doesn't consume crude oil, it consumes refined products. (ft.com)
• Inflation still has a ways to go. (bonddad.blogspot.com)

Earlier on Abnormal Returns

• AI models are not a trust fiduciary. You are on your own. (abnormalreturns.com)
• Personal finance links: the caregiving penalty. (abnormalreturns.com)
• What you missed in our Tuesday linkfest. (abnormalreturns.com)
• Research links: the index rebalancing trade. (abnormalreturns.com)
• Don't miss a thing! Sign up for our daily e-mail newsletter. (abnormalreturns.com)

Mixed media

• How ABC and Disney ($DIS) mismanaged FiveThirtyEight. (natesilver.net)
• New media startups don't have a great track record for investors. (axios.com)
• Ben Smith and Liz Hoffman talk with Joe Weisenthal about the business of business media. (youtube.com)

Podcasts

• Michael Kitces talks with Sara Grillo about how to actually solve a client's problems. (kitces.com)
• Jose Ordonez talks with Brent Sullivan about how 351 exchanges work. (alphaarchitect.com)
• Ben Gilbert and David Rosenthal look at the history of Vanguard. (acquired.fm)

Altruist

• Altruist is building a new RIA affiliation model. (wealthmanagement.com)
• What is Altruist's take on the model? (riabiz.com)

Advisers

• RIA data breaches keep happening. (citywire.com)
• What to do when a client fact checks you with ChatGPT? (xyplanningnetwork.com)
• How to engage with a client's next generation. (kitces.com)
• Private assets are mediated by the big middlemen. (pitchbook.com)
• How an adviser created a podcast funnel to generate a stream of prospects. (kitces.com)
• The OBBBA made QSBS infinitely more complicated. (thehiddentax.com)
• How to think about 'rational gambles' by clients. (rpc.cfainstitute.org)
• What Is The College for Financial Planning? (advisorperspectives.com)
• When complexity bites back. (advisorpedia.com)

Markets

• Some signs of concern for the stock market. (traderfeed.blogspot.com)
• Is AI masking other problems for the stock market? (bonddad.blogspot.com)
• The VIX as measure of risk regimes. (mrzepczynski.blogspot.com)

AI

• The collective size of the bet on AI is huge. (mailchi.mp)
• The scale of the rally in semiconductors is stunning. (downtownjoshbrown.com)
• The NextEra-Dominion deal is, in part, about AI data centers. (cnbc.com)
• On the challenges of forecasting high growth rates. (mrzepczynski.blogspot.com)

More AI

• No matter where you look today, AI is somehow involved. (theatlantic.com)
• Financial markets are full up with AI deals. (apollo.com)
• AI is a technology, not a product. (daringfireball.net)
• AI is not polling well. (axios.com)

Rates

• The 2-year Treasury is now trading above the Fed funds rate. (capitalspectator.com)
• The yield curve is steepening. (econbrowser.com)

The Fed

• Jay Powell had an eventful eight years as Fed chair. (axios.com)
• A look at Jay Powell's legacy at the Fed. (newsletter.mikekonczal.com)
• Kevin Warsh is coming in at an interesting time. (axios.com)

Global

• The Xi-Trump summit was a nothing burger. (danieldrezner.substack.com)
• How unmanned ships could be used to clear mines in the Strait of Hormuz. (ft.com)

Economy

• How much more America is paying in fuel prices? (ft.com)
• Why the cost of living, not social media, is driving consumer pessimism. (theargumentmag.com)
• New business formation is on the rise. (snippet.finance)

Earlier on Abnormal Returns

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

Mixed media

• How making a little progress every day on a project adds up. (ryanholiday.net)
• Why you need to inject a little randomness into your life. (futurism.com)
• Read old books. (investing101.substack.com)

AI

• AI referees can distinguish between AI slop and actual research papers. (papers.ssrn.com)
• HFT requires a lot of compute. Dwarkesh goes backstage at a Jane Street data center. (youtube.com)

Research

• The index rebalancing trade isn't what it used to be (economist.com)
• A closer look at a 'lazy man's momentum strategy.' (klementoninvesting.substack.com)
• Research shows Morningstar's 'Mind the Gap' study overstates investor losses. (rpc.cfainstitute.org)
• Does the use of leverage in private equity earn a return premium? (pm-research.com)
• Why company news seems to move in the same direction. (klementoninvesting.substack.com)
• What factors go into making a star sell-side analyst? (papers.ssrn.com)
• Five insights from "What Are the Odds?: A Statistical Guide to Certainty in an Uncertain World" by Mark Prell. (nextbigideaclub.com)

Markets

• Despite the market moving higher there are signs of risk-off behavior. (trendlabs.com)
• How does the stock market do after three consecutive years of double digit returns? (ft.com)
• Emerging market indices are increasingly tech-heavy. (rpc.cfainstitute.org)

Rates

• Don't discount the danger of rising long term interest rates. (allstarcharts.com)
• The stock-bond correlation is higher when inflation is higher. (behaviouralinvestment.com)
• Are rising rates a vote on persistent fiscal deficits? (bonddad.blogspot.com)

Prediction markets

• Polymarket is launching markets based on the performance of private companies. (finance.yahoo.com)
• Minnesota has banned prediction markets. (npr.org)
• The CFTC isn't happy about it. (frontofficesports.com)
• Kalshi and Polymarket have an incentive to solve the insider trading problem. (semafor.com)
• Unlike in the Senate, House lawmakers and staff can still bet on prediction markets. (npr.org)

Private assets

• Direct lending volumes really took off after the Fed started raising rates in late 2021. (apollo.com)
• Darsana Capital Partners owns a big slug of SpaceX. (wsj.com)
• Matt Zeigler talks with Marc Rubenstein about where risks lie in the financial system. (youtube.com)

VC

• A rising percentage of VC dollars are pouring into the biggest startups. (news.crunchbase.com)
• VCs are betting big on humanoid robots. (pitchbook.com)
• How health influencers helped kill Apeel Sciences. (thefp.com)
• Why this high tech manufacturing company took venture capital. (wsj.com)

AI

• Enterprise demand for AI is real. (thetranscript.substack.com)
• OpenAI co-founder Andrej Karpathy is joining Anthropic. (axios.com)
• Blackstone ($BX) and Google ($GOOGL) are spinning up a company to sell access to Google TPUs. (wsj.com)
• The OpenAI-Musk trial was a waste. (theatlantic.com)

Trading

• Someone is trading Trump's brokerage accounts like crazy. (axios.com)
• Five companies Trump's accounts transacted in. (wsj.com)
• Whoever is trading is apparently paying close attention to what he says. (popular.info)

Online

• Yahoo Finance is taking on the Bloomberg Terminal with a new service. (fortune.com)
• How LinkedIn became what Bluesky was supposed to. (popularbydesign.org)
• Spotify officially bans AI-Generated podcasts that impersonate. (variety.com)
• Amazon ($AMZN) is cutting affiliate fees. (adweek.com)

Earlier on Abnormal Returns

• Research links: the index rebalancing trade. (abnormalreturns.com)
• What you missed in our Monday linkfest. (abnormalreturns.com)
• Adviser links: true advice. (abnormalreturns.com)
• Don't miss a thing! Sign up for our daily e-mail newsletter. (abnormalreturns.com)

Mixed media

• The books JP Morgan Chase ($JPM) is recommending to clients this summer including “The Infinity Machine: Demis Hassabis, DeepMind, and the Quest for Superintelligence,” by Sebastian Mallaby. (cnbc.com)
• Why Joanna Stern's new book "I Am Not a Robot: My Year Using AI to Do (Almost) Everything" is worth a read. (lefsetz.com)

Markets

• G7 yields are at their highest level in 20 years. (apollo.com)
• The Treasury yield curve is normalizing. (carsongroup.com)

Earnings

• This tech boom is being supported by higher earnings. (awealthofcommonsense.com)
• P/E is made up of both P and E. If you focus on P you might miss the E. (tker.co)

Strategy

• Understanding market history is necessary, but not sufficient, for investment success. (awealthofcommonsense.com)
• If you can't clearly identify your edge, you likely don't have one. (rogersplanning.blogspot.com)

Prediction markets

• Regulators have been slow to the issue of insider trading on prediction markets. (wsj.com)
• How Polymarket adjudicates disputed market outcomes. (barrons.com)
• How to keep the good parts of prediction markets. (bloomberg.com)
• Why this Las Vegas casino cancelled a prediction markets conference. (nypost.com)

Companies

• You can't really talk about 'the tech sector' any more. (morningstar.com)
• Consumer companies are caught up in the plastics price increase. (barrons.com)
• Some companies that do earnings announcements right. (ritholtz.com)
• How luxury brands can have their cake and it too. (readtrung.com)

SpaceX

• SpaceX is aiming to go public on June 12. (wsj.com)
• It will hard for average American investors to avoid SpaceX. (slate.com)
• If companies are going public, should you be buying? (trendlabs.com)

Taxes

• How much revenue would closing the carried interest loophole raise? (axios.com)
• Wealth taxes are, at best, hard to implement. (econofact.org)

Policy

• The courts have overwhelmingly ruled against ICE. (politico.com)
• How the Trump administration is undermining the fight against public corruption. (npr.org)
• Trump really doesn't want presidential records preserved for posterity. (newyorker.com)
• An example of how tariffs can be weaponized against industry competitors. (npr.org)
• A segment of border wall is going up in Big Bend, Texas, near the Rio Grande river, despite widespread local opposition. (newyorker.com)
• How septic tanks got caught up in the drive to eliminate DEI. (nytimes.com)
• Why is a cabinet member filming a reality show? (npr.org)

Russia

• Russia now uses FPV drones to hunt Ukrainian civilians. (wapo.st)
• Putin could end the war in Ukraine tomorrow. He chooses not to. (thebulwark.com)

Economy

• The growing stressors on American farmers.. (axios.com)
• On the structural break in American consumer sentiment. (econbrowser.com)
• Why don't more Americans compare themselves to citizens in other developed countries? (paulkrugman.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)
• Higher prices, not just inflation, will affect consumer sentiment for years to come. (abnormalreturns.com)
• Don't miss a thing! Sign up for our daily e-mail newsletter. (abnormalreturns.com)

Mixed media

• ABC News has scrubbed the archives of FiveThirtyEight from the web. (nytimes.com)
• The story behind those ubiquitous Kars4Kids ads. (friendlyatheist.com)
• The motivation behind AI-generated 'news sites.' (floridatrib.org)

Rates

• Treasury rates are at their highs for the year. (cnbc.com)
• Are UK rates really that far out of line? (ft.com)

AI

• How much of what you read online is AI-generated? (axios.com)
• AI-generated content is showing up in consultant reports. (sherwood.news)
• Want to distinguish yourself from AI? Think brevity. (youngmoney.co)

Apple

• OpenAI probably shouldn't pick a fight with Apple ($AAPL). (spyglass.org)
• Mythos is reportedly poking holes in MacOS security. (wsj.com)
• Five stories from "Apple: The First 50 Years" by David Pogue. (nextbigideaclub.com)

X

• Investors in Elon's deal for Twitter who stuck it out will eventually win with SpaceX shares. (msn.com)
• Research shows how X can make users more right wing. (theconversation.com)
• How Elon anoints his proxies on X. (wapo.st)

Legal

• On the prospects for additional insider trading prosecutions. (nypost.com)
• Maybe changing corporate reporting frequency won't matter all that much. (ft.com)
• Another billionaire accused of fraud is going to get off scot-free. (nytimes.com)
• Why do members of Congress, even those convicted of crimes, collect a pension? (wsj.com)
• The new head of ICE is a former private prison executive. (thebulwark.com)

Defense

• The DOD is being forced to move money around to fund the Iran war. (wsj.com)
• Anduril just raised $5 billion in new funding. (cnbc.com)
• Ukraine is relying heavily on new drone technology. (nytimes.com)
• The job of snipers is getting disrupted by drones. (wsj.com)

Economy

• Kevin Warsh got his dream job. Now comes the hard part. (thebulwark.com)
• How to lie with statistics, prices paid edition. (newsletter.platypuseconomics.com)
• Due to the Iran war the world has drawn down its oil supplies. (wsj.com)

Earlier on Abnormal Returns

• What you missed in our Thursday linkfest. (abnormalreturns.com)
• Higher prices, not just inflation, will affect consumer sentiment for years to come. (abnormalreturns.com)
• Don't miss a thing! Sign up for our daily e-mail newsletter. (abnormalreturns.com)

Mixed media

• Being a TV news anchor today isn't what it used to be. (hollywoodreporter.com)
• Just because a rich guy says something doesn't mean it's newsworthy. (stringinamaze.net)
• World press freedom is at a 25-year low. (rsf.org)

Autos

• Nvidia ($NVDA) wants to own the AV tech stack. (axios.com)
• Honda ($HMC) has been hurt by the EV pullback. (wsj.com)
• Autonomous vehicles are a public health issue. (axios.com)
• What people get wrong about Waymo. (theargumentmag.com)
• Robots can now change tires. (axios.com)
• How to buy a used EV. (wsj.com)

Energy

• Renewable energy is now notably cheaper than fossil fuels. (goodgoodgood.co)
• Why Spain's electricity is so cheap. (janrosenow.substack.com)
• The U.S. is short of mineral processing capacity. (theconversation.com)
• The Trump administration continues to force coal plants to stay open. (spokesman.com)
• How much money has shale gas saved American consumers? (marginalrevolution.com)
• How rooftop vertical solar panels work. (pv-magazine-usa.com)

Water

• The Colorado River is in crisis and there is no solution on the horizon. (wsj.com)
• This summer is going to see water stress across the American West. (grist.org)
• Nearly 20% of America's dams are deemed high risk. (motherjones.com)

Environment

• How ocean biomass sinking works. (theconversation.com)
• How glacier-related landslides can cause tsunamis in isolated areas. (arstechnica.com)
• Why Lithuania is restoring peat bogs. (nytimes.com)

Animals

• We're going to miss bats when they are gone. (theconversation.com)
• The late Ted Turner was a 'warrior for bison.' (nytimes.com)

Air travel

• What small towns lose when flights disappear. (npr.org)
• The war has wrecked the economics of cheap flights. (ft.com)
• Short flights are falling in popularity. (npr.org)

Cruising

• The case against cruises. (vanityfair.com)
• Cruisers accept the health risks. (buttondown.com)

Data centers

• Utilities are choosing data centers over residential customers. (qz.com)
• Another locality is hitting pause on new data centers. (thecooldown.com)

AI

• Amazon ($AMZN) wants to get an AI device in your hands. (spyglass.org)
• So does Google ($GOOGL). (spyglass.org)

Science

• AI is making for worse research papers. (calnewport.com)
• How will AI change the research paper? (marginalrevolution.com)
• A lot of international students are giving up on the U.S. and moving home. (nytimes.com)

Family

• What it means to be a 'good enough' parent. (joylere.substack.com)
• Five insights from "Who’s the Favorite?: The Loving, Messy Realities of Sibling Relationships" by Catherine Carr. (nextbigideaclub.com)

Podcasts

• Derek Thompson talks with Morgan Housel and David Wallace-Wells about the collapse in American happiness. (podcasts.apple.com)
• Michael Easter talks with David Epstein, author of "Inside the Box: How Constraints Make us Better." (twopct.com)
• Laurie Santos talks with Tom Hodgkinson, author of "How to Be Idle: A Loafer's Manifesto." (podcasts.apple.com)

Behavior

• There is no universal emotional reaction to colors. (not-ship.com)
• On the relationship between narcissism and the mid-life crisis. (klementoninvesting.substack.com)
• 'Pretty privilege' is real. (daily.jstor.org)

GLP-1s

• On the use of Ozempic in seniors. (sciencedaily.com)
• Hims & Hers ($HIMS) is switching to branded GLP-1s. (sherwood.news)
• A look at research into how to use lower doses of GLP-1s to maintain weight loss. (biopharmadive.com)

Cancer

• How a pancreatic cancer breakthrough came to be. (worksinprogress.news)
• Why more cancer patients are taking ivermectin. (nytimes.com)
• How Gleevec changed cancer care. (npr.org)

Hantavirus

• How the hantavirus spreads. (theatlantic.com)
• Where research stands on a hantavirus vaccine. (cbc.ca)
• A promising hantavirus vaccine is stalled due to a lack of funding. (msn.com)
• Some people hate mRNA until there is the threat of another pandemic. (barrons.com)

Public health

• It's hard to argue that cuts to foreign aid haven't killed thousands of people. (sanjuandailystar.com)
• Millions of children live in homes with loaded, unlocked guns. (npr.org)
• Big Tobacco has a friend in the Trump administration. (nytimes.com)
• A look back at America before the measles vaccine. (theatlantic.com)

Health

• PCOS is now PMOS, i.e. polyendocrine metabolic ovarian syndrome. (theguardian.com)
• On the downsides of increased cannabis use among older adults. (sciencedaily.com)
• Boosting organ donation rates is a challenge. (papers.ssrn.com)
• Donate blood. It's good for you. (slate.com)

Interventions

• When it comes to health interventions: what problem are you trying to solve? (twopct.com)
• There is a difference between who needs, and who wants, testosterone replacement therapy. (theguardian.com)

Fitness

• Screen-free fitness apps are gaining adherents. (wsj.com)
• Physical strength starts falling off earlier than you think. (sciencedaily.com)
• On the connection between hearing loss and walking speed. (wsj.com)

Dogs

• Does having a dog increase longevity? (washingtonpost.com)
• The Beagle Brigade helps police U.S. borders. (yahoo.com)
• Lessons learned from loving a dog unconditionally. (open.spotify.com)
• Michael Easter talks with Nancy Gee and Sam Alaimo about how dogs improve our lives. (twopct.com)

Food

• Food shoppers are looking for cheaper alternatives. (npr.org)
• How higher steel prices are translating into higher food prices. (nytimes.com)
• Soylent was widely derided. It's idea lives on. (theatlantic.com)
• Why people tip less on weekends. (wsj.com)

Drink

• Alcohol is still America's deadliest drug. (statnews.com)
• Canadians are resolute in their boycott of American alcohol. (bnnbloomberg.ca)
• Kash Patel is fond of gifting personalized bottles of bourbon. (theatlantic.com)
• Another sign that craft brewing is in retreat. (axios.com)

Media

• Why critics hated the Beatles when they emerged. (ritholtz.com)
• Movie theaters are having a moment. (statsignificant.com)
• Billboard has an AI problem. (bit.ly)
• Wirecutter is booming. (niemanlab.org)

Sports

• Egon Durban is buying a 25% stake in the Las Vegas Raiders at a $9.9 billion valuation. (cnbc.com)
• Pablo Torre talks with Alan Shipnuck about whether LIV Golf can survive. (podcasts.apple.com)
• Donors have rescued Arkansas' varsity tennis teams. (frontofficesports.com)
• Anna Leigh Waters is the best pickleball player in the world. (nbcnews.com)
• Is technology ruining hunting and fishing? (wsj.com)
• Why some athletes turn to OnlyFans. (frontofficesports.com)
• David Letterman loves PTI. (awfulannouncing.com)

School

• On the positive impact of later school start times. (papers.ssrn.com)
• Keeping up with school communications is a full time job. (bloomberg.com)
• A look at the public school doom loop. (freddiedeboer.substack.com)

College

• How AI will accelerate the decline of undifferentiated universities and colleges. (newyorker.com)
• MBA programs are struggling to attract applicants. (wsj.com)
• How shifts in college-going have affected the marriage market. (papers.ssrn.com)
• What 'Rooster' gets right (and wrong) about college. (danieldrezner.substack.com)
• College wait lists are, by and large, a big tease. (wsj.com)
• Why Princeton abandoned its honor code. (theatlantic.com)

Earlier on Abnormal Returns

• What you missed in our Friday linkfest. (abnormalreturns.com)
• Higher prices, not just inflation, will affect consumer sentiment for years to come. (abnormalreturns.com)
• Don't miss a thing! Sign up for our daily e-mail newsletter. (abnormalreturns.com)

Mixed media

• Hawaii wants to remove personhood for corporations. (theatlantic.com)
• Colorado is set to become the first state to create a new kind of corporation, the A-corp, just for artists. (cpr.org)
• How an influx of wealth has changed Miami. (wsj.com)

Books

• Michael Easter talks with Leidy Klotz, author of "In a Good Place: How the Spaces Where We Live, Work, and Play Can Help Us Thrive." (twopct.com)
• An excerpt from "AI for Good: How Real People Are Using Artificial Intelligence to Fix Things That Matter" by Josh Tyrangiel. (theatlantic.com)
• Brett McKay talks with David Epstein, author of "Inside the Box: How Constraints Make us Better." (artofmanliness.com)

Power

• How America's gerontocracy clings to power. (harpers.org)
• Hollywood warned us about the rise of corporate power in America. (jacobin.com)

Global

• Now comes the hard part for Péter Magyar, the new Prime Minister of Hungary. (newyorker.com)
• The CIA is reportedly operating in Mexico to fight cartels. (cnn.com)
• How Sweden is pulling back on government spending. (wsj.com)

AI

• AI makes it trivial to copy the likeness of the dead. (sherwood.news)
• Kevin Kelly is taken with Claude. (kevinkelly.substack.com)

Health

• Researchers have confirmed something new about human anatomy, the interstitium. (nytimes.com)
• Americans are overall drinking less, but the health impact on the heaviest drinkers is rising. (statnews.com)

Sports

• NBA Commissioner Adam Silver has more problems than solutions. (theatlantic.com)
• Despite challenges, bowling isn't dead yet. (bloomberg.com)

Longreads

• Pittsburgh is becoming a hub for industrial robots. (wapo.st)
• Is it really uncertainty that is driving fertility rates lower? (nytimes.com)
• How to fund universal healthcare at a lower cost than today's system. (paulkrugman.substack.com)
• Inventions happen when they are supposed to. (construction-physics.com)
• On the invention of the disposable diaper. (worksinprogress.co)
• What it means to be a Costco ($COST) person. (tastecooking.com)
• An inside look at Gawker's legacy, ten years on. (hollywoodreporter.com)

Strategy

• Why stocks can fall for no obvious reason. (morningstar.com)
• Your choice of language, and graphs, greatly affect how you think about investing. (portfoliocharts.com)
• Tim Harford, "Betting on the future can protect us from risk, and it can make us smarter about risk too. But it can also corrode and corrupt." (timharford.com)

Charles Schwab

• Charles Schwab ($SCHW) has launched spot Bitcoin and Ethereum trading to select retail clients. (theblock.co)
• How Charles Schwab ($SCHW) plans to use AI to service clients. (wealthmanagement.com)

IPOs

• The IPO pop is back. Cerebras ($CRBS) opens at a big premium. (cnbc.com)
• Index rule changes show we live in a new world. (axios.com)
• Barry Ritholtz talks with Dave Nadig about the SpaceX IPO and its effect on market indices. (ritholtz.com)

Finance

• There is a bull market in space-themed ETFs. (etf.com)
• When do BDCs becoming 'screaming bargains'? (institutionalinvestor.com)
• How real is the NYC-to-Miami finance exodus? (ft.com)
• The SDNY is essentially giving white collar criminals a get out of jail free card. (ft.com)

Data centers

• A Utah county has approved construction of one of the world’s largest data centers despite widespread opposition. (theguardian.com)
• Australia is requiring new data centers to fund renewable energy. (thecooldown.com)

Food

• Why bagels are seemingly everywhere these days. (wsj.com)
• How slop bowls took over lunch. (esquire.com)
• India has a Diet Coke shortage. (nbcnews.com)

Economy

• How the immigration crackdown is showing up in employment data. (bonddad.blogspot.com)
• Derek Thompson talks with Alex Imas about why AI won't cause a jobs apocalypse. (podcasts.apple.com)
• How defense spending affects the economy. (klementoninvesting.substack.com)

Earlier on Abnormal Returnsw

• Higher prices, not just inflation, will affect consumer sentiment for years to come. (abnormalreturns.com)
• Longform links: descriptive representation. (abnormalreturns.com)
• What you missed in our Wednesday linkfest. (abnormalreturns.com)
• Personal finance links: your specific circumstances. (abnormalreturns.com)
• Don't miss a thing! Sign up for our daily e-mail newsletter. (abnormalreturns.com)

Mixed media

• Americans are socializing less with their neighbors. (axios.com)
• How neighborhood-centric newsletters bring people together. (newyorker.com)
• When you lose touch with the average person. (hamiltonnolan.com)

Markets

• The stock market rally is broadening out. (trendlabs.com)
• Stocks are rallying despite poor consumer sentiment. (carsongroup.com)

Strategy

• Different stocks have differing durations. (flyoverstocks.com)
• Why AI-generated investment content is a waste for the writer and consumer. (behaviouralinvestment.com)

Trading

• How would Jane Street rank, return-wise, against the big hedge funds? (ft.com)
• Hudson River Trading is cleaning up as well. (ft.com)

Private credit

• How private credit managers can have different marks for the same loan. (ft.com)
• When it comes to private credit always read the footnotes. (mispricedassets.substack.com)

Video content

• YouTube is going all out to keep creators in the fold. (nytimes.com)
• YouTube creators are turning to consultants and strategists to boost their businesses. (cnbc.com)
• Why video content is seemingly getting homogenized. (garbageday.email)
• Microdramas are red hot. (techcrunch.com)

World Cup

• Some World Cup host cities are now regretting their decision to host. (theatlantic.com)
• Kansas City is spending big on transit for the World Cup (nytimes.com)
• Hosting big sporting events is rarely an economic boon. (bloomberg.com)

Economy

• The April CPI came in at 3.8% year-over-year. (bonddad.blogspot.com)
• Higher inflation is going to put a crimp in real wages. (axios.com)
• How higher gasoline prices are showing up in food inflation. (wsj.com)
• How rising gasoline prices affect retail sales. (econbrowser.com)

Earlier on Abnormal Returns

• Research links: biased assumptions. (abnormalreturns.com)
• What you missed in our Monday linkfest. (abnormalreturns.com)
• Adviser links: a great advisory firm. (abnormalreturns.com)
• Don't miss a thing! Sign up for our daily e-mail newsletter. (abnormalreturns.com)

Mixed media

• There are now a record high number of 18-year olds in America. (apollo.com)
• Rates of violent crime in big cities keep falling. (axios.com)
• Why you should greet and talk to strangers. (npr.org)

Quant stuff

• A round-up of recent academic research including ' Options Trading Strategy in Earnings Season.' (alphainacademia.com)
• A new monograph "The Active Side of Indexing" by Rob Arnott and Lillian Wu just dropped. (rpc.cfainstitute.org)
• A review of "Wrong Number: How to Extract Truth from a Blizzard of Quantitative Disinformation" by Aaron Brown. (rpc.cfainstitute.org)

AI

• You can't just let LLMs loose trading your account. (fa-mag.com)
• Don't use LLMs to forecast economic data like inflation. (klementoninvesting.substack.com)

Research

• A quick look at NAAIM exposure data. (quantifiableedges.com)
• How volatility spikes affect momentum strategies. (alphaarchitect.com)
• How investor attention matters. (alphaarchitect.com)
• Why do analysts underreact? (larryswedroe.substack.com)
• Why the boom-bust cycle in financial markets repeats. (finhistory.substack.com)
• Companies should be more wary of corporate spies. (klementoninvesting.substack.com)
• The annuity puzzle is real. (papers.ssrn.com)

Risk and Reward

• Christine Benz and Ben Johnson talk with Ben Carlson, author of "Risk and Reward: How to Handle Market Volatility and Build Long-Term Wealth." (morningstar.com)
• Peter Lazaroff talks with Ben Carlson, author of "Risk and Reward." (peterlazaroff.com)
• Ed Elson talks with Ben Carlson and Ramit Sethi about wealth in America. (podcasts.apple.com)

Retirement

• How to execute on tax planning in retirement. (retirementresearcher.com)
• A review of Dana Anspach’s new book, “Living Off Your Acorns – Your Guide To The Four Phases of Retirement.” (theretirementmanifesto.com)
• There are a lot of decisions to make in early retirement. (morningstar.com)

Housing in retirement

• Owning a home in retirement isn't all it's cracked up to be. (nytimes.com)
• How to think about moving in retirement. (barrons.com)
• Stuck in the suburbs: on the plight of a growing number of senior citizens. (axios.com)

Work

• Equity in a private company only truly becomes wealth when you can cash it out. (moneychangeseverything.substack.com)
• On the benefits of job you don't necessarily love. (jordangrumet.substack.com)
• Don't spend your life just working. (tonyisola.com)

Personal finance

• Why you should take less risk the wealthier you are. (ofdollarsanddata.com)
• How adulthood has been pushed back and redefined. (yourbrainonmoney.substack.com)
• A Q&A with Ramit Sethi about living a rich life. (nytimes.com)
• On the downsides of fame. (theartofwandering.substack.com)

Fund management

• Stock market concentration is an issue, but do you know better than the market? (morningstar.com)
• The active/passive dichotomy is played out. (larryswedroe.substack.com)
• How mutual funds differ from CITs. (bloomberg.com)

Prediction markets

• CFTC Chair Michael Selig says prediction markets and sportsbooks are "two separate things." (axios.com)
• How users with inside information seek to hide on prediction markets. (nytimes.com)

Private assets

• Is daily pricing going to mess with the private credit story? (bloomberg.com)
• Private infrastructure funds are by definition long lasting. (pitchbook.com)
• Fresh inflows into private credit funds are drying up. (ft.com)

Company reporting

• Companies would do well not to reduce reporting frequency. (ft.com)
• We don't need semi-annual company reports, we need real-time reports. (ritholtz.com)

Companies

• How ($ASML) created a global monopoly. (worksinprogress.news)
• Activist investors are piling into Hewlett Packard Enterprise ($HPE). (semafor.com)
• Eli Lilly ($LLY) is celebrating its 150th anniversary. (axios.com)
• Nike ($NKE) has a China problem. (wsj.com)
• McDonald's ($MCD) for the first time is putting its name on a stadium. (chicago.suntimes.com)

IPOs

• Fervo Energy ($FRVO) is now public. (techcrunch.com)
• A sign of the time: a red-hot Cerebras IPO. (morningstar.com)
• The big three IPOs keep tracking higher. (paulkedrosky.com)
• Rising San Francisco real estate prices highlight the AI boom. (bloomberg.com)

Data usage

• How AI will change residential data usage. (om.co)
• Is the future of data centers distributed? (cnbc.com)
• Are data centers actually good for localities? (nber.org)
• Joe Weisenthal and Tracy Alloway talk with Samanth Subramanian, the author of "The Web Beneath the Waves: The Fragile Cables That Connect Our World." (youtube.com)

Economy

• Wholesale prices are rising rapidly as well. (axios.com)
• These grocery store items have seen the biggest jump in prices. (flowingdata.com)
• One reason why inflation feels worse is because it it is hitting 'everyday items.' (econbrowser.com)
• The K-shaped economy is real. (bonddad.blogspot.com)
• What would happen to the deficit if we entered a recession? (apollo.com)

Earlier on Abnormal Returns

• Personal finance links: your specific circumstances. (abnormalreturns.com)
• What you missed in our Tuesday linkfest. (abnormalreturns.com)
• Research links: biased assumptions. (abnormalreturns.com)
• Don't miss a thing! Sign up for our daily e-mail newsletter. (abnormalreturns.com)

Mixed media

• We have a shortage of merchant marines. (npr.org)
• America has a looming shortage of pastors. (axios.com)
• Stagnation in America's most popular baby names. (sherwood.news)

Podcasts

• Michael Batnick talks with Michael Kitces about AI's impact on wealth management. (youtube.com)
• Paul Richards and Joe Wiggins talk about the curse of knowledge and how to communicate complex information to different audienes. (decisionnerds.buzzsprout.com)
• Benjamin Felix and Braden Warwick talk with Elroy Dimson about financial history, market behavior, and the evolution of global investing. (rationalreminder.libsyn.com)

Practice managment

• Lessons learned from running a practice for ten years including 'Want a higher profit margin? Charge higher fees.' (flowfp.com)
• Non-AUM advisers are seeing rising fees. (thinkadvisor.com)

AI

• AI is now the worst it will ever be at planning tasks. (fortunesandfrictions.com)
• What advisers lose if they are no longer a client's first call. (institutionalinvestor.com)
• Anthropic formally launched 10 new financial services-focused AI agents. (riabiz.com)
• How AI changes the need to retain client records. (investmentnews.com)

Advisers

• There's no avoiding sensitive topics in planning. (kitces.com)
• The great wealth transfer is going to happen more slowly than the hype. (wsj.com)
• The term 'family office' gets thrown around a lot these days. (barrons.com)
• On the downside of naming a family member as executor. (investmentnews.com)
• What holds small businesses from adopting 401(k) plans? (crr.bc.edu)
• Trump Account holders don't need to receive a CRS. (wealthmanagement.com)
• A round-up of recent advisortech news including 'FINNY Unveils Its New "AI Chief Growth Officer." (kitces.com)
• Are you a financial advisor? Every Friday we send a (free) advisor-focused newsletter. (newsletter.abnormalreturns.com)
• The antidote to greed is connection. (meghaanlurtz.substack.com)

Markets

• The stock market has powered through the war due to AI and semiconductors. (giftarticle.ft.com)
• Crazy markets can always get crazier. (awealthofcommonsense.com)

Private assets

• KKR & Co. is injecting $300 million into a private credit fund it manages, FS KKR Capital Corp. ($FSK). (fa-mag.com)
• Why credit skill matter for private credit managers. (larryswedroe.substack.com)

IPOs

• AI chipmaker Cerebras is coming public this week. (cnbc.com)
• PE-backed Inspire Brands, home of Dunkin' Donuts, is coming public. (sherwood.news)
• Scooter company Lime is planning to go public. (pitchbook.com)
• Barnes & Noble is also prepping an IPO. (wsj.com)
• Wise Group PLC ($WSE) is now (dual) listed on the Nasdaq. (bloomberg.com)
• What happens to Tesla ($TSLA) stock when SpaceX goes public? (sherwood.news)

AI

• OpenAI employees got a chance to cash out some of their shares. (wsj.com)
• Don't confuse tasks with jobs. QR codes didn't kill the server. (sophiebakalar.substack.com)
• How to regulate AI before it is too late. (hyperdimensional.co)

Global

• The rest of the world is grappling with the risk of being dependent on American tech companies. (ft.com)
• Unpredictable and unreliable are two different things. (theatlantic.com)
• Why Russia is struggling in Ukraine. (noahpinion.blog)

Economy

• Why aren't oil prices already higher? (ft.com)
• American youth are pessimistic about their job prospects. (axios.com)
• Health care is driving jobs growth in California, and a lot other states. (agglomerations.eig.org)
• The U.S. housing market has found some sort of equilibrium. (bonddad.blogspot.com)
• The personal savings rate is falling. (axios.com)

Earlier on Abnormal Returns

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

Mixed media

• On the risks of using AI note takers. In short, they record everything, even the stuff you wish they wouldn't. (nytimes.com)
• Law firms are a point of vulnerability for insider trading. (ft.com)
• Some states are looking to ban PE ownership of law firms. (wsj.com)

Autos

• U.S. automakers have an aluminum problem. (wsj.com)
• Lidar is finding its way into new, non-AV settings. (nytimes.com)

EVs

• EVs are making inroads in some surprising places. (nytimes.com)
• What Ford ($F) is doing to build a $30,000 EV pickup. (arstechnica.com)

Semis

• The math is moving in favor of autonomous semis. (axios.com)
• The Tesla ($TSLA) Semi is a step forward. (motherjones.com)

Wind

• Hard to believe, but there are still some offshore wind farms under construction. (apnews.com)
• The Trump administration is citing 'national security' to halt offshore wind projects. (arstechnica.com)
• Does living close to windmills cause negative health effects? (papers.ssrn.com)

Solar

• What not put up solar canopies in parking lots? Unfortunately costs are higher. (bridgemi.com)
• How balcony solar works. (theconversation.com)

Electricity

• America needs more electricity. Period. (apricitas.io)
• The U.S. has opted out of the electric future. (paulkrugman.substack.com)

Fire

• The cost to fight wildfires is only going up. (vox.com)
• What visitors lose when national parks are affected by fire. (theconversation.com)

Environment

• CO2 in the atmosphere just hit a new record high. (scientificamerican.com)
• It's not your imagination, Spring weather is whipsawing back and forth more than it used to. (bloomberg.com)
• The rate of sea level rise has accelerated. (newscientist.com)
• Mexico City is sinking, rapidly. (nasa.gov)
• Trees play a big role in urban cooling. (vox.com)
• Why we can't reliably forecast volcanic eruptions. (quantamagazine.org)
• Coronado has a raw sewage problem. (wsj.com)

Fish

• Pike love to eat juvenile salmon. (sciencedaily.com)
• Fish dosed with psilocybin showed less aggression toward peers. (404media.co)
• Five insights from "Every Last Fish: A Deep Dive into Everything They Do for Us and We Do to Them" by Rose George. (nextbigideaclub.com)
• How to use the entire fish. (reasonstobecheerful.world)

Travel

• Budget airlines simply can't get their costs low enough to thrive, let alone survive. (barrons.com)
• RIP, Spirit Airlines. Travelers still need a low-cost option. (theatlantic.com)
• What is going to happen to Spirit Airlines' planes? (npr.org)

Space

• We don't really know why the universe is expanding as fast as it is. (wsj.com)
• Space-based solar doesn't make sense, for now. (advisorperspectives.com)

Science

• More text in scientific journals is AI written. (nature.com)
• The peer review system is breaking down. (slate.com)
• How immigration policy is crimping researcher interest in the U.S. (statnews.com)
• The costs of gutting science will be felt in the future. (dailygazette.com)
• How to read science reporting. (theconversation.com)

Technology

• AirPods with cameras? Sure, why not? (spyglass.org)
• Security camera companies have some AI kinks to work out. (wsj.com)
• Creating fake IDs is trivial for the latest AI models. (theatlantic.com)
• Do we now need insurance on robots? (pitchbook.com)

Pregnancy

• More parents are declining Vitamin K shots for their babies. (propublica.org)
• Rural labor and delivery units are closing across the U.S. at an accelerating rate. (nytimes.com)
• Yawns are contagious from the earliest ages. (scientificamerican.com)

Cancer

• All the good news in the fight against pancreatic cancer. (derekthompson.org)
• Why aren't more patients with metastatic lung cancer getting treatment? (nytimes.com)

Medicine

• This trial showed AI to outperform ER docs in diagnosis. (theguardian.com)
• Simply cutting a year off medical education won't make for better prepared doctors. (sensible-med.com)

Health

• Just a reminder that pandemics are really bad. (theargumentmag.com)
• A first hand report from a doctor on board the MV Hondius. (theatlantic.com)
• The FDA has blocked a report on the efficacy of the shingles vaccine. (nytimes.com)
• Why are health care exchanges sending data to the likes of TikTok and Meta ($META)? (bloomberg.com)
• The thymus matters more than previously thought. (msn.com)
• 'Blue zones' are coming under increasing scrutiny. (statnews.com)

Fitness

• The Fitbit app will soon become Google Health. (techcrunch.com)
• Brett McKay talks with Manoush Zomorodi author of "Body Electric: The Hidden Health Costs of the Digital Age and New Science to Reclaim Your Well-Being." (artofmanliness.com)

Nicotine

• The FDA authorized fruit-flavored vapes for the first time. (wsj.com)
• Is the end of the cigarette on the horizon? In the UK, maybe. (theatlantic.com)

Drink

• Two pubs a day are closing in Britain. (bbc.com)
• Canadian imports of American booze have fallen some 70%. (theconversation.com)

Food

• The protein boom is pushing whey prices higher. (fooddive.com)
• Beef prices aren't coming down any time soon. (bloomberg.com)
• A big profile of Raisin' Canes founder Todd Graves. (bloomberg.com)
• At least 3 million people have lost access to federal food aid. (wsj.com)

Media

• Spotify ($SPOT) is happy to host AI-generated slopcasts. (techcrunch.com)
• Reading an audiobook is harder than it looks. (ritholtz.com)
• How BookTok influences Hollywood. (axios.com)
• WKRP is back! (apnews.com)

Sports

• Noted free market guy, Rupert Murdoch, doesn't like competition. (wsj.com)
• Why Mark Cuban bought into the CEBL. (frontofficesports.com)
• Why England remains the home for many F1 teams. (wsj.com)
• The Muhammad Ali American Boxing Revival Act of 2026 helps promoters, not boxers. (bloomberg.com)
• The number of walks are up in MLB this year. You can thank the robot umps. (wsj.com)
• What Kentucky Derby winner Golden Tempo could clear in stud fees. (huddleup.substack.com)
• Russ Roberts talks with Gary Belsky, author of "Solo Golf: The Zen of Playing Alone and How It Can Transform Your Game." (econtalk.org)

College

• Should colleges cap the number of A grades? (theatlantic.com)
• Is AI going to further delegitimize going to college? (newyorker.com)
• College kids aren't shifting away from AI-exposed majors just yet. (agglomerations.eig.org)
• An excerpt from "Go the F*ck to College" by Adam Mansbach. (fatherly.com)

School

• Canvas was down, putting schools on hold. (npr.org)
• School phone bans don't seem to raise test scores, but children seem to be happier. (marginalrevolution.com)
• American public schools are going to have to start shrinking as enrollment declines. (nytimes.com)

Earlier on Abnormal Returns

• What you missed in our Friday linkfest. (abnormalreturns.com)
• Don’t confuse something scarce for a novel asset class. (abnormalreturns.com)
• Don't miss a thing! Sign up for our daily e-mail newsletter. (abnormalreturns.com)

Mixed media

• Why would anyone want to be a commencement speaker these days? (wsj.com)
• We know how to solve a lot of our problems. Why we choose not to. (overcomingbias.com)
• Why do Anglophones swear so much? (leobenedictus.substack.com)

Markets

• The top 10 companies in the S&P 500 generate over a third of its earnings. (apollo.com)
• Have you checked out China's stock market recently? (trendlabs.com)
• UK stocks are having a moment. (global.morningstar.com)

Strategy

• Nobody actually earns 'average' returns. (tker.co)
• Successful investing is a trade off between 'cynicism and naive exuberance.' (contessacapitaladvisors.com)
• Why hedge fund managers are so often bearish in public. (awealthofcommonsense.com)

Fund management

• How securities lending helps ETF investors. (etf.com)
• Zero management fee hedge funds sound good, in theory. (cashandcarried.substack.com)
• How is Vanguard Investor Choice working out? (riabiz.com)

Prediction markets

• FanDuel and DraftKings are pushing further into prediction markets. (frontofficesports.com)
• What to make of the pause on prediction market ETFs. (cnbc.com)

Companies

• How did AST SpaceMobile ($ASTS) garner a $25 billion valuation? (bloomberg.com)
• Google's ($GOOGL) free cash flow could fall to zero next year. (asymco.com)
• Markel ($MKL) has attracted an activist investor. (barrons.com)
• Are airlines out of profit levers to pull? (readtrung.com)

Conflicts of interest

• The Trump family is finding new ways to invest in companies that contract with the federal government. (ft.com)
• Not surprisingly the company that is painting the Lincoln Memorial Reflecting Pool has a Trump connection. (nytimes.com)

ICE

• ICE activity has done little to help native-born workers. (papers.ssrn.com)
• DHS is dropping its fast track training program for new ICE agents. (politico.com)
• ICE keeps detaining this American citizen. (motherjones.com)

Iran

• Just how much the war in Iran costing? It's likely more than $25 billion. (nytimes.com)
• The war in Iran has uncovered some uncomfortable truths about American power. (theatlantic.com)
• Gulf countries feel abandoned by the U.S. (wsj.com)
• How much is the Iran war actually costing? (newsletter.platypuseconomics.com)
• Iran's navy is nothing if not resourceful. (giftarticle.ft.com)

Military

• The U.S. military keeps destroying boats in the Caribbean. (nytimes.com)
• Under federal law, military widows lose their family’s survivor benefits if they remarry before age 55. (washingtonpost.com)

Policy

• The 119th Congress has been historically inactive and members are retiring at a rapid pace. (wsj.com)
• The Trump administration is waging a war on public governmental records. (axios.com)
• Trump wants to remake Washington DC in his image. (npr.org)
• Here is a tax that billionaires will actually pay. (theatlantic.com)

Economy

• The labor market is looking better, but inflation worse. (newsletter.mikekonczal.com)
• Why a crackdown on immigrants hasn't helped native born workers. (axios.com)
• What to make of the national debt debate. (newsletter.platypuseconomics.com)
• Penny wise and pound foolish, skimping on economic data costs a country in the long run. (economist.com)
• A look at the K-shaped economy via spending. (libertystreeteconomics.newyorkfed.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 confuse something scarce for a novel asset class. (abnormalreturns.com)
• Don't miss a thing! Sign up for our daily e-mail newsletter. (abnormalreturns.com)

Mixed media

• Ezra Klein talks with journalist Julia Belluz about the rise of GLP-1s and the spread of unregulated peptides. (podcasts.apple.com)
• Sean Illing talks with Anna North about the relationship between wellness and conspiracy thinking. (podcasts.apple.com)
• Michael Easter talks with David Epstein, author of "Inside the Box: How Constraints Make us Better." (twopct.com)

Strategy

• Is the U.S. stock market now just a big bet on AI? (marginalrevolution.com)
• The problem with diversification: the worst performing asset classes bounce back when you least expect it. (rcmalternatives.com)
• Pundits love to cite rising national debt as a harbinger of doom. (awealthofcommonsense.com)
• What to look for in a market bubble. (wsj.com)

Finance

• This ETF issuer just launched 34 funds in a single day. (etf.com)
• Are AI traders going to take over markets? (paulkedrosky.com)
• Rare Earth Americas ($REA) just went public. (semafor.com)

AI

• The circular AI economy is only getting more circular. (morningstar.com)
• The combined free cash flow of the four “hyperscalers” — Amazon, Alphabet, Microsoft and Meta has largely disappeared. (ft.com)
• It's hard to argue that Meta's ($META) products are getting better over time. (futurism.com)

College sports

• The NCAA 'fixes' what isn't broken: March Madness. (npr.org)
• Colleges are increasingly trying to fire coaches 'for cause.' (nytimes.com)
• My Jumbotron is bigger than yours... (frontofficesports.com)

Russia

• Why Russia’s Victory Day parade is getting scaled down this year. (cnn.com)
• Is a legitimate opposition figure emerging in Russia? (thebulwark.com)
• What is Putin's plan? (newyorker.com)

Economy

• April was the second good jobs report in a row. (bonddad.blogspot.com)
• Men, young and old, are dropping out of the work force. (wapo.st)
• 10% Section 122 tariffs have been struck down. (axios.com)
• A closer look at weakening farmer sentiment. (econbrowser.com)
• Consumer sentiment is at a new low. (econbrowser.com)

Earlier on Abnormal Returns

• What you missed in our Thursday linkfest. (abnormalreturns.com)
• Longform links: disruption and scale. (abnormalreturns.com)
• Don’t confuse something scarce for a novel asset class. (abnormalreturns.com)
• Don't miss a thing! Sign up for our daily e-mail newsletter. (abnormalreturns.com)

Mixed media

• Shipping code isn't the problem for companies. It's cultural coherence. (thetypicalset.com)
• Five key insights from "The Future of Work Is Grey: The Untapped Value of Age in the Workforce" by Dan Pontefract. (nextbigideaclub.com)
• Gilded Age titans seem to have been more generous than today's bilionaires. (awealthofcommonsense.com)

Retirement

• Why spending in retirement is such a psychological challenge. (whitecoatinvestor.com)
• Evidence that retirement is bad for your health. (ft.com)
• Why people are afraid to step back from work. (jordangrumet.substack.com)

Aging

• Three questions to ask aging parents, including 'Is Your Home Still Safe and Comfortable for You?' (morningstar.com)
• When elder care becomes a financial burden. (nytimes.com)

Investing

• How to build a portfolio you don't have to babysit. (morningstar.com)
• How does a bond ladder work? (awealthofcommonsense.com)
• Don’t confuse something scarce for a novel asset class. (abnormalreturns.com)
• How compounding works. (thecollegefinanciallady.com)

Perspective

• Surviving and thriving are two different things. (meaningfulmoney.life)
• Everybody's just trying to do their best. (humbledollar.com)
• Hope is the antidote to financial nihilism. (yourbrainonmoney.substack.com)

Personal finance

• Watch what people do with their money, not what they say. (awealthofcommonsense.com)
• How to become a 401(k) millionaire. (theretirementmanifesto.com)
• How to upgrade your online security. (obliviousinvestor.com)
• How Swedish death cleaning works. (hellomortal.substack.com)
• How to prepare your kids for an inheritance. (kindnessfp.com)
• Ever bigger houses may have been a mistake. (theatlantic.com)
• Five insights from Joseph Moore's new book, "How to Get Rich in American History: 300 Years of Financial Advice That Worked (& Didn’t)." (nextbigideaclub.com)
• Ten sales pitches you can safely ignore. (advisorperspectives.com)

Markets

• Samsung has joined the $1 trillion market cap club. (finance.yahoo.com)
• UK borrowing rates hit their highest level since 1998. (bbc.com)

Strategy

• 10 lessons learned from Barry Ritholtz's "How NOT to Invest." (ritholtz.com)
• Financial literacy+financial discipline equals success. (ofdollarsanddata.com)

Crypto

• Strategy ($MSTR) now says they may have to sell Bitcoin to pay dividends. (cnbc.com)
• Morgan Stanley ($MS) is rolling out cryptocurrency trading on its E*Trade platform. (theblock.co)

Finance

• Just how big are the coming SpaceX, OpenAI and Anthropic IPOs? This big. (paulkedrosky.com)
• Closed-end funds are (nearly) permanent capital, but is it the right structure? (economist.com)

Private assets

• What you need to know before buying a non-traded BDC. (morningstar.com)
• A closer look at the $30 billion Ares Capital ($ARCC) fund. (barrons.com)

Companies

• Amazon ($AMZN) plays the long game. (stratechery.com)
• One thing a foldable iPhone should excel at. (spyglass.org)
• In 2026, Europe is minting unicorns at a more rapid pace. (pitchbook.com)

AI

• Anthropic is buying compute from xAI. (axios.com)
• Why the ratio of GPU vs. CPUs matters. (sherwood.news)
• Wave-powered AI data centers. Sure, why not? (arstechnica.com)

Defense

• How much has the war in Iran actually cost? More than the Pentagon is letting on. (popular.info)
• Pete Hegseth thinks he's doing a good job. (msn.com)

Earlier on Abnormal Returns

• Personal finance links: no perfect equilibrium. (abnormalreturns.com)
• What you missed in our Tuesday linkfest. (abnormalreturns.com)
• Research links: trading infrastructure. (abnormalreturns.com)
• Don’t confuse something scarce for a novel asset class. (abnormalreturns.com)
• Don't miss a thing! Sign up for our daily e-mail newsletter. (abnormalreturns.com)

Mixed media

• RIP, Ted Turner. (wapo.st)
• 24/7 news wasn't a thing before CNN. (cnn.com)
• It's easy to forget how much Ted Turner changed the pre-Internet media landscape (variety.com)
• Watch 'Call Me Ted' on HBO. (hbomax.com)

Outside the Box

• An excerpt from David Epstein's new book "Inside the Box: How Constraints Make Us Better." (theatlantic.com)
• Five insights from David Epstein's "Inside the Box: How Constraints Make Us Better." (nextbigideaclub.com)
• Derek Thompson talks with David Epstein, author of "Inside the Box: How Constraints Make Us Better." (podcasts.apple.com)
• An excerpt from David Epstein's new book "Inside the Box: How Constraints Make Us Better." (derekthompson.org)

Books

• An excerpt from "Gerontocracy in America: How the Old Are Hoarding Power and Wealth—and What to Do About It" by Samuel Moyn. (harpers.org)
• An excerpt from “Yuppies: The Bankers, Lawyers, Joggers, and Gourmands Who Conquered New York” by Dylan Gottlieb. (nytimes.com)
• An excerpt from "I Am Not a Robot: My Year Using AI for Almost Everything" by Joanna Stern. (wsj.com)
• An excerpt from "Beyond Belief: How Evidence Shows What Really Works," by Helen Pearson. (slate.com)

Industry

• Why do airlines seem to go bankrupt so often? (davidoks.blog)
• How an oil refinery works. (construction-physics.com)

Medicine

• A new pill could extend the lives of dogs. How would that change our relationship with them? (theatlantic.com)
• How Johnson & Johnson ($JNJ) turned ketamine, via Spravato, into a blockbuster depression drug. (bloomberg.com)

History

• The Revolutionary War was, in part, a battle over documents. (smithsonianmag.com)
• Tyler Cowen talks with Kim Bowes, author of "Surviving Rome: The Economic Lives of the Ninety Percent." (conversationswithtyler.com)

Sports

• How Curt Cignetti accomplished the greatest turnaround in modern sports. (nytimes.com)
• How Everest has changed since the publishing of "Into Thin Air." (theatlantic.com)
• How athletes are extending their careers longer than ever before. (nytimes.com)

Longreads

• Are prediction markets good for anything? (asteriskmag.com)
• How the tech sector got co-opted by the most corrupt administration in American history. (theatlantic.com)
• Online casino-style games generate 'an astonishing amount of actual revenue.' (bloomberg.com)
• On the enshittification of the USA. (thebulwark.com)
• A look at the human cost of American farm closures. (nytimes.com)
• How fatherhood has changed over time. (derekthompson.org)
• On the evidence for the theory of ego depletion. (unsafescience.substack.com)
• Jon Greenaway, "The horror of The Tonight Show is perfected not in its live broadcast, but in its fragmentation and digital afterlife. The show is precision-crafted for algorithmic engagement." (currentaffairs.org)