Markets
- What's behind the rise in Treasury yields? (ritholtz.com)
- Falling earnings expectations would kill the bull market. (spilledcoffee.co)
- Is this market more like the Nifty Fifty era than the Dotcom boom? (awealthofcommonsense.com)
Managers
- Great investors aren't exactly normal. (economist.com)
- A big profile of Leopold Aschenbrenner, portfolio manager of Situational Awareness. (wsj.com)
ETFs
- SpaceX's ($SPCX) share of various index ETFs is going up. (morningstar.com)
- A closer look at the Alpha Architect 1-3 Month Box ETF ($BOXX). (barrons.com)
Finance
- Why the alternative asset managers have struggled this year. (morningstar.com)
- Victory Capital Holdings Inc. agreed to buy First Eagle Investments (bloomberg.com)
- Signs that institutional investors are coming to embrace evergreen funds. (ft.com)
- Concerns from Mark Walters are spreading through the insurance industry. (wsj.com)
- Vanguard is buying upstart custodian Altruist. (wsj.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)
Chicken
- How chicken came to dominate the global market for protein. (giftarticle.ft.com)
- On the vast scale of the chicken industry in the U.S. (andymasley.com)
Canada
- Daniel Drezner, "The Trump administration’s political tactics have made securing a deal harder while providing powerful political incentives for Canada to stand firm." (danieldrezner.substack.com)
- What does Trump want from Canada? (paulkrugman.substack.com)
- Why toilet paper prices are headed higher. (theguardian.com)
Writing
- AI writing as a billionaire flex. (axios.com)
- Proof of effort means something. (surfacearea.beehiiv.com)
- Noah Brier, "Writing is anti-consensus." (whyisthisinteresting.substack.com)
- Some advice on how to write. (thezvi.substack.com)
Economy
- Q2 PCE came in at 3.7%. Core at 3.3%. (wsj.com)
- The spending gap, by wealth, is growing. (bonddad.blogspot.com)
- Diesel prices are nearing a record high. (nytimes.com)
- Fiscal issues are putting upward pressure on interest rates. (apollo.com)
Earlier on Abnormal Returns
- Personal finance links: safely spending a nest egg. (abnormalreturns.com)
- What you missed in our Tuesday linkfest. (abnormalreturns.com)
- Research links: judgment and accountability. (abnormalreturns.com)
Mixed media
- RIP, Dolly Parton. (theringer.com)
- Dolly Parton, the last bipartisan icon. (wapo.st)
- Dolly Parton's best skill may be as songwriter. (npr.org)
- Dolly Parton’s “Dolly: A True Original Musical” will still open on Broadway. (variety.com)
- How to contribute to Dolly Parton's Imagination Library. (donate.imaginationlibrary.com)