Tuesday links: right on paper

MarketsU.S. stock returns are rarely normal. (ofdollarsanddata.com)Betting against U.S. stock has historically been a loser. (optimisticallie.com)Market bubbles are as old as markets. (acadian-asset.com)FinanceState Street SPDR Nasdaq 100 ETF ($QNDX) launches tomorrow. (bloomberg.com)The laws of economics have caught up to private equity. (mailchi.mp)Cancer and immune disease-focused biotechs are leading in VC fundraising. (biopharmadive.com)AIThanks to chips, Samsung's profit jumped 20x year-over-year. (spyglass.org)Why Sam Altman wants to make a deal with the administration. (technologyreview.com)What is Meta's ($META) path forward on AI? (stratechery.com)Different models have different 'worldviews.' (tomtunguz.com)EconomyJust how much oil prices are off their highs. (axios.com)Why yields are up around the globe. (ft.com)Global economic policy uncertainty is now highly correlated. (klementoninvesting.substack.com)Earlier on Abnormal ReturnsResearch links: data quality. (abnorma