Sunday links: consequential things
MarketsIf you're not confused right now, you're doing it wrong. (howardlindzon.com)Degens are now trading perpetual oil futures 24/7. (wsj.com)StrategyThere's no investing without some anxiety. (tker.co)Sean McLaughlin, "Every trade exists in its own context with its own participants and its own set of circumstances that have never existed before and will never exist again." (allstarcharts.com)CompaniesMicrosoft ($MSFT) trades its lowest relative valuation in over a decade. (barrons.com)Dick's ($DKS) is the obvious winner of the youth sports boom. (wsj.com)Americans have once again fallen in love with Barnes & Noble. (theatlantic.com)MetaMeta ($META) is reportedly planning big layoffs. (techcrunch.com)There is a backlash against devices like Meta's smart glasses. (wsj.com)Private creditTo gate, or not to gate, that is the question for private credit managers. (pitchbook.com)On the difference good PIKs and bad PIKs. (larryswedroe.substack.com)The mediaThe FCC commissioner has threaten
Markets
- If you're not confused right now, you're doing it wrong. (howardlindzon.com)
- Degens are now trading perpetual oil futures 24/7. (wsj.com)
Strategy
- There's no investing without some anxiety. (tker.co)
- Sean McLaughlin, "Every trade exists in its own context with its own participants and its own set of circumstances that have never existed before and will never exist again." (allstarcharts.com)
Companies
- Microsoft ($MSFT) trades its lowest relative valuation in over a decade. (barrons.com)
- Dick's ($DKS) is the obvious winner of the youth sports boom. (wsj.com)
- Americans have once again fallen in love with Barnes & Noble. (theatlantic.com)
Meta
- Meta ($META) is reportedly planning big layoffs. (techcrunch.com)
- There is a backlash against devices like Meta's smart glasses. (wsj.com)
Private credit
- To gate, or not to gate, that is the question for private credit managers. (pitchbook.com)
- On the difference good PIKs and bad PIKs. (larryswedroe.substack.com)
The media
- The FCC commissioner has threatened to pull broadcast licenses due to Iran war coverage. (usatoday.com)
- The Secretary of Defense if openly pining for a change in ownership of CNN. (variety.com)
- The Pentagon is taking great control of Stars and Stripes because it's too 'woke.' (npr.org)
DHS
- The DHS has gutted its oversight function. (theguardian.com)
- The next DHS head has a contracting mess to clean up. (axios.com)
- The DHS keeps pushing for access to data it doesn't have a legal basis for. (propublica.org)
- In any other administration this would be a major scandal. (msn.com)
Entitlements
- Social Security is our best anti-poverty program. (crr.bc.edu)
- What happens if If Medicare’s hospital insurance fund runs out of money? (theincidentaleconomist.com)
Oversight
- The U.S. Department of Education has abandoned key oversight of the companies that run the federal student loan program (npr.org)
- A DOGE employee reportedly took a mess of Social Security data. (techcrunch.com)
Power
- More evidence that billionaire money now dominates American politics. (nytimes.com)
- Jared Kushner is soliciting investments from foreign governments while acting as a 'diplomat.' (nytimes.com)
- Trump just does stuff. (nplusonemag.com)
- This story is telling. (defector.com)
Iran
- Ezra Klein talks the history of Iran-U.S. relations with Ali Vaez who is the Iran project director at the International Crisis Group. (open.spotify.com)
- Mishal Husain talks with Vali Nasr, author of "Iran’s Grand Strategy: A Political History." (youtube.com)
Economy
- The potential risks to the economy are adding up. (stayathomemacro.substack.com)
- The administration is now pushing the H-2A program, i.e. temporary visas for farm workers. (nytimes.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
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