Wednesday links: replacing a CEO

MarketsBitcoin is just a risk-on asset. (trendlabs.com)South Korean stocks have taken it on the chin this week. (ft.com)Target ($TGT) stock has stopped going down. (stockmarketmedia.com)WarHow markets have historically reacted to war. (novelinvestor.com)We're only going to know how this plays out in hindsight. (awealthofcommonsense.com)Why good and bad news has differential effects. (mrzepczynski.blogspot.com)Remember, you are not an expert on Iran. (behaviouralinvestment.com)AppleApple ($AAPL) is going to sell a lot of Macbook Neos. (spyglass.org)Why Apple's Fusion Architecture matters. (om.co)CompaniesAnthropic is now at a $20 billion annual revenue run rate. (bloomberg.com)Defense startup Anduril is closing in on a big new investment round. (wsj.com)Some software models that will survive AI. (oldroperesearch.substack.com)IranNo one is a fan of the current Iranian regime. (unchartedterritories.tomaspueyo.com)The U.S. and Israel are now arming the Kurds. (theatlantic.com)The FBI rece