Sunday links: intellectual depth
Markets8 market lessons from 2025 including 'Stocks are spending less time in the S&P 500.' (tker.co)2025 put a nail in the coffin of the 'Bitcoin is digital gold' argument. (economist.com)CPG stocks no longer seem to act as a safe haven. (wsj.com)StrategyWant to get rich, concentrate? Want to get poor, concentrate. (awealthofcommonsense.com)Path dependence matters more than you realize. (thefinancialpen.substack.com)FinanceThe growth in retail investing has changed how institutional investors approach the market. (howardlindzon.com)BDCs are having a rough year with many trading well below NAV. (wsj.com)Why LPs don't typically sue GPs. (cashandcarried.substack.com)Deal makingThe TikTok deal solves nothing, and actually makes things worse. (wsj.com)Trump's 'peace deals' keep falling apart. (wapo.st)PardonsHow the Trump pardon machine operates. (giftarticle.ft.com)A visualization of the Trump pardon spree. (wsj.com)ImmigrationRoger Lowenstein, "The Trump Administration is racing to undo
Markets
- 8 market lessons from 2025 including 'Stocks are spending less time in the S&P 500.' (tker.co)
- 2025 put a nail in the coffin of the 'Bitcoin is digital gold' argument. (economist.com)
- CPG stocks no longer seem to act as a safe haven. (wsj.com)
Strategy
- Want to get rich, concentrate? Want to get poor, concentrate. (awealthofcommonsense.com)
- Path dependence matters more than you realize. (thefinancialpen.substack.com)
Finance
- The growth in retail investing has changed how institutional investors approach the market. (howardlindzon.com)
- BDCs are having a rough year with many trading well below NAV. (wsj.com)
- Why LPs don't typically sue GPs. (cashandcarried.substack.com)
Deal making
- The TikTok deal solves nothing, and actually makes things worse. (wsj.com)
- Trump's 'peace deals' keep falling apart. (wapo.st)
Pardons
- How the Trump pardon machine operates. (giftarticle.ft.com)
- A visualization of the Trump pardon spree. (wsj.com)
Immigration
- Roger Lowenstein, "The Trump Administration is racing to undo the meaning of the American experience, in the process shattering the lives of hundreds of thousands of immigrants and sowing fear among millions." (rogerlowenstein.substack.com)
- Immigrants help take care of American children. (theatlantic.com)
Health
- Bethany McLean, "It’s hard to find Smith’s butcher and baker in the American health care system." (wapo.st)
- How Japan provides all citizens with access to health care. (thebulwark.com)
- USAID cuts led to the the worst cholera epidemic in South Sudan’s history. (propublica.org)
Economy
- Hamilton Nolan, "People are naturally bad at interpreting very large numbers and therefore we all have a hard time conceptualizing just how insane wealth inequality has become..." (hamiltonnolan.com)
- GDP is not equivalent to standard of living. (paulkrugman.substack.com)
- A review of ten economic questions for 2025 including 'What will happen with house prices in 2025?' (calculatedriskblog.com)
- The economic schedule for the coming week. (calculatedriskblog.com)
Earlier on Abnormal Returns
- Top clicks this week on Abnormal Returns. (abnormalreturns.com)
- What you missed in our Saturday linkfest. (abnormalreturns.com)
- Why RSS still matters. (abnormalreturns.com)
- Don't miss a thing! Sign up for our daily e-mail newsletter. (abnormalreturns.com)
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