Sunday links: capturing AI beta

MarketsThe on-the-run 30-year Treasury bond has a duration of around 14 years. (apollo.com)Berkshire Hathaway ($BRK.A) is an index unto itself. (trendlabs.com)StrategyHow to diversify in an age of AI concentration. (awealthofcommonsense.com)Beware confirmation bias. (ritholtz.com)ETFsThere will soon be more ETFs than mutual funds. (thedailyupside.com)Why tax treatment matters for derivative income ETFs. (wealthmanagement.com)AlternativesEight myths about semiliquid funds including 'Incentive fees encourage managers to perform better'. (morningstar.com)Blue Owl ($OWL) stock is struggling. (wsj.com)Venture capitalVCs can't miss out on the AI boom. (pivotal.substack.com)VCs are scaling up to meet the moment. (investing101.substack.com)TaxesHow the pass-through entity became a tax nightmare. (theatlantic.com)How Switzerland taxes wealth. (washingtonpost.com)Conflicts of interestWhy did the CFTC pull the plug on this investigation? (bloomberg.com)A look at everyone who has donated to