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Thursday links: A.I. pessimism

Markets

  • Gold has given up all its 2026 gains. (axios.com)
  • Oil prices are back down to pre-war levels. (semafor.com)
  • Bitcoin is well off its highs. (ft.com)

Fund management

  • Activist investors are on a cold streak. (semafor.com)
  • The State Street SPDR Portfolio Nasdaq 100 ETF ($QNDX) is here. (thedailyupside.com)

Apple

  • Apple ($AAPL) has announce price increases for Macs and iPads. (wsj.com)
  • Even Apple ($AAPL) can't dodge rising memory prices. (spyglass.org)
  • A look at iPhone prices over time. (asymco.com)

Economy

  • The PCE shows a 4.1% jump from a year earlier. (axios.com)
  • Signs that the wealth effect is holding up consumer spending. (bonddad.blogspot.com)
  • New business formation is surging. (marginalrevolution.com)

Earlier on Abnormal Returns

  • Longform links: building taste. (abnormalreturns.com)
  • We are rapidly running out of road to kick the proverbial Social Security can. (abnormalreturns.com)
  • What you missed in our Wednesday linkfest. (abnormalreturns.com)
  • Personal finance links: family MVPs. (abnormalreturns.com)
  • Are you a financial advisor? Sign up for our exclusive Talking Wealth newsletter. (talkingwealthpod.com)
  • Don't miss a thing! Sign up for our daily e-mail newsletter. (abnormalreturns.com)

Mixed media

  • People are now flocking to the Lincoln Memorial Reflecting Pool. (newyorker.com)
  • Two things drive algae growth: heat and nutrient runoff. (washingtonpost.com)
  • Algae is non-partisan. (npr.org)