Fund management
- It's hard to overstate the impact of the indexing revolution. (bobpisani.substack.com)
- Will ETFs embrace perpetual futures? (etfcentral.com)
Nvidia
- A look at Nvidia's ($NVDA) impressive recent earning report. (newsletter.fiscal.ai)
- Nvidia ($NVDA) is now worth more than 5 of 11 S&P sectors. (axios.com)
- Nvidia ($NVDA) is spending big on startups. (pitchbook.com)
Prediction markets
- Former White House teleprompter operator ordered by CFTC to pay $172,000 for Kalshi trades on mention markets. (theblock.co)
- States are not backing down in the battle against prediction markets. (nytimes.com)
Taxes
- When you pause a gas tax, you have to find money for roads somewhere else. (indianacapitalchronicle.com)
- Want to narrow the budget deficit? Collect taxes that are already on the books. (ft.com)
Social Security
- A reckoning is coming for Social Security. Politicians aren't ready. (politico.com)
- Want to save Social Security? Cap earnings. (wapo.st)
Government
- Farmers are struggling to get help from a depleted Department of Agriculture. (nytimes.com)
- Lower courts establish facts. The Supreme Court is ignoring them. (theatlantic.com)
- The Census Bureau has lost its non-partisan sheen. (newsletter.platypuseconomics.com)
Legal matters
- The U.S. has killed at least 223 people in attacks on suspected drug boats. (nytimes.com)
- DHS has surveilled churches and libraries. (npr.org)
- Some theories why violent crime rates are falling. (axios.com)
- How Live Nation ($LYV) avoided an antitrust trial. (wsj.com)
Pentagon
- How the war in Iran is pulling resources from around the globe. (washingtonpost.com)
- The Army is running without a lot of senior leadership. (nytimes.com)
- Formerly routine promotions have become a political tool. (nytimes.com)
Stay in touch
- Don't miss a thing! Sign up for our daily e-mail newsletter. (abnormalreturns.com)
- Work in wealth management? Sign up for our exclusive Talking Wealth newsletter. (talkingwealthpod.com)
Democracy
- Democracies tend to attract immigrants that like democracy. (theargumentmag.com)
- Politics isn't supposed to be exciting. (slowboring.com)
Economy
- Rising government debt is going to provide a platform for an opportunistic politician. (awealthofcommonsense.com)
- The Fed is increasingly paying attention to the impact of AI. (msn.com)
- The Fed could use with a little more humility. (ritholtz.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)