Sunday links: the age of uncertainty
MarketsTech stocks are outrunning their earnings. (chartkidmatt.com)The AI trade is booming, so is degneracy. (howardlindzon.com)Are markets complacent about cybersecurity risks? (tker.co)ETFsOn the risks of autocallable ETFs. (wsj.com)The more Wall Street is selling something, the faster you should run away. (humbledollar.com)The fight over mega-IPO index inclusion is a reminder there is no such thing as 'passive' investing. (wsj.com)Retirement plansExpanding access to retirement plans is a good thing. (semafor.com)The case against alternatives in 401(k) plans. (institutionalinvestor.com)CompaniesThe megacap companies shouldn't be able to grow as fast as they are. (gettheleverage.com)Apple ($AAPL) is actually reducing capex. (sherwood.news)Everybody wants to build THE super-app. (spyglass.org)Elon loves related party transactions. (sherwood.news)Berkshire HathawayBerkshire Hathaway ($BRK.A) now holds nearly $400 billion in cash equivalents. (fortune.com)Don't hold your breath waiti
Markets
- Tech stocks are outrunning their earnings. (chartkidmatt.com)
- The AI trade is booming, so is degneracy. (howardlindzon.com)
- Are markets complacent about cybersecurity risks? (tker.co)
ETFs
- On the risks of autocallable ETFs. (wsj.com)
- The more Wall Street is selling something, the faster you should run away. (humbledollar.com)
- The fight over mega-IPO index inclusion is a reminder there is no such thing as 'passive' investing. (wsj.com)
Retirement plans
- Expanding access to retirement plans is a good thing. (semafor.com)
- The case against alternatives in 401(k) plans. (institutionalinvestor.com)
Companies
- The megacap companies shouldn't be able to grow as fast as they are. (gettheleverage.com)
- Apple ($AAPL) is actually reducing capex. (sherwood.news)
- Everybody wants to build THE super-app. (spyglass.org)
- Elon loves related party transactions. (sherwood.news)
Berkshire Hathaway
- Berkshire Hathaway ($BRK.A) now holds nearly $400 billion in cash equivalents. (fortune.com)
- Don't hold your breath waiting for a Berkshire Hathaway ($BRK.A) breakup. (cnbc.com)
- Berkshire Hathaway's ($BRK.A) website is old school. Shareholders like it that way. (wsj.com)
- How Greg Abel did in charge of his first annual shareholder meeting. (barrons.com)
- Greg Abel is preaching patience. (ft.com)
The DOJ
- Experienced lawyers are fleeing the DOJ. (newrepublic.com)
- Hard to believe, but the DOJ is cutting even more legal corners. (theatlantic.com)
Voting
- Despite the actions of elected officials, voters don't like gerrymandering. (theconversation.com)
- On the effective end of the Voting Rights Act. (theatlantic.com)
Fiscal policy
- The American tax base continues to shrink, as exemptions and carveouts expand. (theatlantic.com)
- Want to fix the structural deficit? Start with Social Security. (crr.bc.edu)
Spending
- Programs to reduce violent crime seem to have worked. Their funding is in peril. (nytimes.com)
- A look at how much the DHS spends on domestic surveillance. (wsj.com)
- How cuts to PEPFAR are showing up in parts of Zambia. (nytimes.com)
Iran
- How long can Trump sit on his hands in Iran? (danieldrezner.substack.com)
- Iran nor the U.S. think they have lost the war. (theatlantic.com)
The Fed
- Why a change in leadership at the Fed matters less than you think. (ritholtz.com)
- Why Jerome Powell felt compelled to stay on at the Federal Reserve. (wsj.com)
Economy
- When, or if, higher oil (and gasoline) prices will affect the economy? (awealthofcommonsense.com)
- Where AI is spurring business formation. (apollo.com)
- Five lessons from "Planet Money: A Guide to the Economic Forces That Shape Your Life" by Alex Mayyasi. (nextbigideaclub.com)
- The economic schedule for the coming week. (economicweekly.substack.com)
Earlier on Abnormal Returns
- What everyone clicked on this week on Abnormal Returns. (abnormalreturns.com)
- What you missed in our Saturday linkfest. (abnormalreturns.com)
- Life is existential uncertainty. Make sure you enjoy it while you can. (abnormalreturns.com)
- Don't miss a thing! Sign up for our daily e-mail newsletter. (abnormalreturns.com)
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