Markets

• The 10-year Treasury is approaching 5%. (econbrowser.com)
• The S&P 500's 50-day moving average has now been above its 200-day moving average for 300 trading days. (stockmarketmedia.com)

Finance

• Franklin Templeton ($BEN) has seen inflows the past few quarters. (ft.com)
• Nasdaq invested $100 million in the parent of crypto exchange Kraken to bring tokenized stocks to market in 2027. (cnbc.com)

Foldable phones

• The iPhone Duo is NOT an iPad. (sixcolors.com)
• Why foldable phones are so expensive. (nytimes.com)

Stay in touch

• Work in wealth management? 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)

Renewable energy

• Fervo's ($FRVO) first project is on track to send power to the grid. (cnbc.com)
• Westinghouse Electric is gearing up for an IPO. (wsj.com)
• The US built more grid batteries last quarter than ever before. (canarymedia.com)

Oil

• Elevated oil prices are accelerating permanent demand destruction. (semafor.com)
• Diesel prices are headed even higher. (econbrowser.com)

Economy

• Still no pickup in weekly initial jobless claims. (bonddad.blogspot.com)
• Why women are overwhelmingly filling new jobs. (newsletter.mikekonczal.com)
• How AI is affecting the real economy. (thetranscript.substack.com)

Earlier on Abnorma Returns

• Longform links: actual writing. (abnormalreturns.com)
• What you missed in our Wednesday linkfest. (abnormalreturns.com)
• Personal finance links: taking a walk. (abnormalreturns.com)

Mixed media

• September is the start of the sports year in earnest. (neilpaine.substack.com)
• Why this NFL season is different for sports betting companies. (barrons.com)
• How many major professional sports teams can the U.S. support? (petcashpost.com)

Books

• A look at "Data Empire: The Power of Information to Organize, Control, and Dominate" by Roopika Risam. (lareviewofbooks.org)
• A Q&A with Francis Fukuyama author of “In the Realm of the Last Man: A Memoir.” (reuters.com)
• An excerpt from "The Last Free Women: A Daring Escape From Afghanistan & Coming to America" by Rebecca Blumenstein and Dianna Kapp. (vanityfair.com)
• An excerpt from "Sugar Coated: Unboxing the Hidden Forces Shaping America's Favorite Breakfast Food" by Mario Nestlend Lisa Sutherland (theatlantic.com)
• An excerpt from "Is This It: The Never-Ending Rise and Fall of the Strokes (and Rock ’n’ Roll), by Steven Hyden. (theringer.com)

Bonds

• The world's governments are paying dramatically more in interest. (giftarticle.ft.com)
• Derek Thompson talks with Liaquat Ahamed author of "1873: The Rothschilds, the First Great Depression, and the Making of the Modern World." (youtube.com)
• An excerpt from “A Fabulous Debt: The Epic Story of How Bonds Built the Modern World” by Robin Wigglesworth. (giftarticle.ft.com)
• Mary Childs talks bonds with Ed Al-Hussainy, portfolio manager at Columbia Threadneedle. (open.spotify.com)

Finance

• Hedge funds used to be a cottage industry. Now the largest hedge funds rival the big banks. (finance.yahoo.com)
• A profile of Hudson River Trading co-founder Jason Carroll. (bloomberg.com)

Longreads

• Kyle Harrison, "Longevity is almost like a mindset. The minute a dynasty starts treating its age as evidence, the age starts working against it." (investing101.substack.com)
• NIMBYism is wrapped up with worries about design and aesthetics. (worksinprogress.co)
• Why Albanians turned against a luxury resort backed by Jared Kusher and Ivanka Trump. (slate.com)
• Looked at over the very long run, democracy is still in ascendance. (ourworldindata.org)
• How seaweed become a hot commodity. (nytimes.com)
• AI could help us talk with animals. Should we? (bloomberg.com)
• On the downsides of meditation. (theatlantic.com)

Markets

• How is it that dividend stocks outperforming YTD? (morningstar.com)
• Investors need a little more humility. (awealthofcommonsense.com)

Finance

• Robinhood ($HOOD) is expanding its prediction markets offerings. (axios.com)
• How Greece is wooing hedge funds to relocate there. (ft.com)

AI

• Some AI researchers are freaking out about AGI. (futurism.com)
• It doesn't look like the government will step in any time soon. (axios.com)
• Apple ($AAPL) devices will become consumer AI devices. (spyglass.org)

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)

Russia

• Russia continues to probe Europe with drones. (wsj.com)
• The Russian military is dependent on Chinese support. (politico.eu)

Economy

• Heating oil prices are back near their highs. (axios.com)
• The U.S. lost a great opportunity to term out its debt. (ritholtz.com)
• Why a trade war with Canada is an own goal. (newsletter.platypuseconomics.com)

Earlier on Abnormal Returns

• Personal finance links: taking a walk. (abnormalreturns.com)
• What you missed in our Tuesday linkfest. (abnormalreturns.com)
• Research links: a meaningful shift. (abnormalreturns.com)

Mixed media

• The game in Melbourne is the farthest away game in NFL history. (thespade.substack.com)
• The 49ers and Rams are taking diametrically opposed positions on sleep. (frontofficesports.com)
• Sleep researchers are licking their chops. (sports.yahoo.com)

Books

• An excerpt from “The Everywhere Millionaire: Who Is Really Rich in America and How They Got There” by Owen Zidar and Eric Zwick. (wsj.com)
• Paul Ollinger talks with Jack Raines, author of "Young Money: A Field Guide to Wealth and Purpose in Your 20s." (youtube.com)
• Amy Arnott and Chrisinte Benz talk with Jean Chatzky, author of a new book "The Forever Paycheck: The New Retirement Strategy to Spend More, Worry Less, and Never Run Out of Money." (morningstar.com)

Aging

• When you quit your job for retirement, you lose a lot of social connection. (tonyisola.com)
• Is there a way to bridge aging in home to a CCRC? (nytimes.com)
• Five thoughts on getting older. (theretirementmanifesto.com)

Wealth

• Some reflections on American net worth. (betonit.ai)
• How rich is too rich? (gettheleverage.com)
• Don't let someone else define success for you. (meaningfulmoney.life)

Money stress

• Money stress never really goes away, it shifts. (earnandinvest.com)
• Staying on alert for financial fraud can be stressful. (humbledollar.com)
• You'll never solve all your problems. (ryanholiday.net)

Taxes

• Where the expanded SALT deduction is paying off. (bloomberg.com)
• A portfolio filled with low-basis stock could prevent people from spending. (ofdollarsanddata.com)

Personal finance

• When should you hire a financial advisor? (kindnessfp.com)
• Housing affordability won't change overnight. (awealthofcommonsense.com)
• Our financial lives can live at two different speeds, depending on circumstances. (josephmoorebooks.com)
• The worst estate planning mistake you can make is not planning at all. (morningstar.com)
• Keeping up with premium credit card benefits is a full-time job. (wsj.com)
• Don't let work ruin your personal life. It's not worth it. (humbledollar.com)
• Why financial stability is sexy. (yourbrainonmoney.substack.com)

Bonds

• Now would be the wrong time to panic about your bond allocation. (whitecoatinvestor.com)
• Trailing real bond returns have rarely been so poor. (mrzepczynski.blogspot.com)
• The Treasury failed to term out debt during ZIRP. (ritholtz.com)

Markets

• It's time to come to terms with market concentration. (awealthofcommonsense.com)
• Earnings revisions have been positive for 21 straight weeks. (fa-mag.com)

Finance

• Anthropic and OpenAI are seeking investment grade credit ratings, post-IPO. (ft.com)
• Robinhood ($HOOD) is an underwriter for the Oura Health IPO. (wsj.com)
• A $6.2 billion 'seed round' is an oxymoron. (anildash.com)
• Reputations matter on Wall Street. (ft.com)

ETFs

• How TIPS ladder ETFs work. (obliviousinvestor.com)
• Who really owns a white-label ETF? (etfcentral.com)
• Lessons learned from all the ETFs that iShares has closed. (mutualfundobserver.com)

AI

• Corporate America is turning to open source AI models. (nytimes.com)
• AI companies are releasing new models at a rapid clip. (cnbc.com)
• Are we sleepwalking into an AI apocalypse? (theargumentmag.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)

Global

• Canada's retaliatory tariffs are now in effect. (bnnbloomberg.ca)
• Japan is now taking its own defense seriously. (theatlantic.com)
• Patrick O'Shaughnessy talks with Walter Russell Mead about the new global order. (youtube.com)
• If Taiwan can't trust the U.S., is a deal with China inevitable? (theatlantic.com)
• The UN voted to adopt a resolution for the world to formally phase out the traditional Mercator map of the globe. (theguardian.com)

Jobs

• AI's effect on the jobs market is rolling out more slowly than expected. (newyorker.com)
• A jobs gap is growing between college grads and high school grads. (wsj.com)
• Women accounted for 98% of the 162,000 jobs the US added in August. (semafor.com)

Earlier on Abnormal Returns

• Research links: a meaningful shift. (abnormalreturns.com)
• Adviser links: managing client transitions. (abnormalreturns.com)
• What you missed in our Sunday linkfest. (abnormalreturns.com)
• Top clicks last week on Abnormal Returns. (abnormalreturns.com)

Mixed media

• Why athletes are drinking cherry juice. (nytimes.com)
• There's never been more choices in pillows. (fastcompany.com)
• Your kitchen sponge is disgusting. (msn.com)

Quant stuff

• A roundup of recent academic research including 'Is Sector Rotation Causal? A Geometric Test of the Growth-to-Defensive Lead-Lag.' (alphainacademia.com)
• How to do sensitivity testing of a quant model. (rpc.cfainstitute.org)
• A roundup of recent academic research including 'Momentum Strategies in ETFs under Simple Operational Rules: Economic Value and Conditional Predictability.' (alphainacademia.com)

Research

• What daily stock market returns can tell us about the economy. (alphaarchitect.com)
• On the influence of being in a large firm on manager alpha. (klementoninvesting.substack.com)
• Why managers can do better than off-the-shelf academic factors. (aqr.com)
• Mauboussin and Callahan on the shift from public to private markets over time. (morganstanley.com)
• In theory, democratizing private investments won't help individual investors all that much. (papers.ssrn.com)
• Can tax-aware long-short strategies handle withdrawals? (papers.ssrn.com)
• An explanation for 'the savings glut of the rich': increased income volatility. (papers.ssrn.com)

Podcasts

• Peter Mallouk talks with Vanguard CEO Salim Ramji about Altruist, AI and more. (podcasts.apple.com)
• Michael Batnick talks with David Armstrong⁠ from WealthManagement.com about the changing market for client referrals. (youtube.com)
• Greg Bartalos talks with Scott Danner, the chief growth officer of Steward Partners, about the challenges of succession planning. (barrons.com)

Altruist

• Altruist has launched a financial planning agent inside Hazel. (investmentnews.com)
• Altruist is rolling out Altruist's Hazel Financial Planning Agent. (riabiz.com)
• An interview with Jason Wenk, founder of Altruist, about the Vanguard deal. (riabiz.com)

Vanguard

• Vanguard will likely use Altruist technology to manage Vanguard Digital Advisor. (thedailyupside.com)
• Why Vanguard couldn't avoid the adviser business forever. (wealthmanagement.com)

Flourish

• Aquiline Capital Partners has agreed to buy a controlling stake in wealth management technology platform Flourish from MassMutual. (barrons.com)
• Why Flourish needed to be set free. (riabiz.com)

Advisers

• Charles Schwab ($SCHW) has again tightened access to long-short capacity. (wealthmanagement.com)
• Anthropic is trying to line up wealth managers for its soon-to-be wealthy employees. (citywire.com)
• Flat-fee models are not one-size-fits-all. (kitces.com)
• Client transitions need to be carefully orchestrated. (investmentnews.com)
• How marriage later in life affects estate planning. (thinkadvisor.com)
• What the data says about how much advisers speak in meetings. (financial-planning.com)
• Work in wealth management? Sign up for our exclusive Talking Wealth newsletter. (talkingwealthpod.com)
• How AI is supercharging investment scams. (barrons.com)

Markets

• Utility stocks have rolled over. (bloomberg.com)
• Why diesel prices are so high. (mrzepczynski.blogspot.com)

Prediction markets

• Crypto traders have shifted attention to prediction markets. (wsj.com)
• Lebron James is now a Polymarket endorser. (frontofficesports.com)

Law and order

• The IRS cut audit personnel. Guess what happened next? (npr.org)
• The FBI has lowered its standards for new agents. (futurism.com)
• Florida has accelerated the pace of executions. (axios.com)

Economics

• All economies are mixed. The only question is what mix. (unherd.com)
• Why the definition of a small business matters. (boondoggle.substack.com)
• On the relationship between reading and the prospects for liberal democracy. (theargumentmag.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)

Economy

• The risks for higher inflation are out there. (apollo.com)
• Wage increases are decelerating. (washingtonpost.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)
• On the high cost of adulting in America today. (abnormalreturns.com)

Mixed media

• The number of people 65 and older now outnumber children ages 5 and younger worldwide for the first time ever. (axios.com)
• It's now more clear what is going on at the Census Bureau. (npr.org)
• Just how big is the 'sandwich generation' in America? (pewresearch.org)

Also on the site

• On the high cost of adulting in America today. (abnormalreturns.com)
• 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)

Top clicks this week

1. Why your investment strategy should change over time. (awealthofcommonsense.com)
2. It's hard to overstate the impact of the indexing revolution. (bobpisani.substack.com)
3. Some random market insights including: Nvidia's ($NVDA) forward P/E keeps falling. (awealthofcommonsense.com)
4. How rising rates should change how you think about the bond market. (barrons.com)
5. The correlation between stocks and interest rates is now negative. (axios.com)
6. Your bond allocation shouldn't give you agita. (morningstar.com)
7. How major asset classes performed in August 2026. (capitalspectator.com)
8. TIPS look attractive, but it's not as simple as buy a TIPS ETF. (morningstar.com)
9. How the Altruist deal could affect Fidelity and Schwab ($SCHW). (wealthmanagement.com)
10. Want to save Social Security? Cap benefits. (washingtonpost.com)

Autos

• Ford ($F) has ambitious targets for the new Fathom electric truck. (wsj.com)
• Goodyear Tire's ($GT) turnaround is tentative, at best. (cnbc.com)
• How stolen Canadian cars end up in Russia. (nytimes.com)
• What it's like to drive a solar-powered car. (wapo.st)
• Car sunroofs keep exploding. (wsj.com)

Transport

• Robotaxis are trying to learn their way around London streets. (nytimes.com)
• Another case for congestion pricing, faster ambulance transit times. (nber.org)
• Are bike lanes 'DEI'? (nytimes.com)

Heat

• 2026 is set to become the hottest summer on record in the U.S. (washingtonpost.com)
• How higher temperatures are affecting how we enjoy Summer. (grist.org)
• Are we undercounting the number of deaths due to heat? (npr.org)
• Nepal didn't cause global warming but it is paying the price. (newyorker.com)

Animals

• The government is tracking every federally permitted lobster boat from Maine to Virginia. (washingtonpost.com)
• How to eliminate unneeded mosquito species. (unchartedterritories.tomaspueyo.com)
• How chickens became optimized for rapid weight gain. (ft.com)

Science

• Scientific advisory committees play an important role. (npr.org)
• Scientists can now tell fake ancient pottery from the real thing. (today.ucsd.edu)
• Why downgrading Pluto was a mistake. (theguardian.com)
• Jonquilyn Hill talks with Adam Kirsch, author of the new book "We Want to Believe: How Aliens Went Mainstream and Why It Matters." (podcasts.apple.com)

Robots

• If manufacturing is going to boom in the U.S., it's going to require even more robots. (ft.com)
• Why we enjoy watching robots fail spectacularly. (wsj.com)

Technology

• Millions of drivers licenses are for sale online. (arstechnica.com)
• Open networks are getting clogged with bad actors. (seths.blog)
• Just how much should you trust Pangram? (wired.com)
• How noise-cancelling headphones work. (nytimes.com)

Behavior

• What we need to understand about psychopaths. (theguardian.com)
• What does it say about society that so many people are living on stimulants like energy drinks? (currentaffairs.org)

Health

• Some preliminary research that psilocybin could reduce chemotherapy side effects. (science.org)
• The closure of rural hospitals is putting expectant mothers at risk. (indianacapitalchronicle.com)
• Major medical groups have released their seasonal vaccine recommendations. (npr.org)
• What the research into long Covid shows. (smithsonianmag.com)
• The first surgical Apple Vision Pro application was approved by the FDA. (asymco.com)
• Don't ignore persistently dry eyes. (npr.org)

Sitting

• Prolonged sitting is bad for your health. (sciencedaily.com)
• Bryan Walsh talks with Manoush Zomorodi, author of "Body Electric: The Hidden Health Costs of the Digital Age and New Science to Reclaim Your Well-Being." (podcasts.apple.com)

Fitness

• How exercise changes our brains. (psychologytoday.com)
• Yoga is losing mind share to other activities. (theatlantic.com)

Dogs

• On the parallels between canine and human aging. (sciencedaily.com)
• On the prospect of truly hypoallergenic dogs. (smithsonianmag.com)

Drink

• Most NA beers have some alcohol. (wsj.com)
• THC drink makers are in regulatory limbo. (cnbc.com)
• Wineries are desperately trying to diversify their revenue streams. (nytimes.com)
• Scotland has a Scotch whiskey problem. (ft.com)

Food

• There are relatively easy ways to protect food safety, but we choose not to. (theatlantic.com)
• This San Francisco restaurant can't hire a dishwasher, even at $50 an hour. (sfgate.com)
• The restaurants that have embraced AI slop. (newyorker.com)

Entertainment

• A look at this Summer's box office including a big season for Imax ($IMAX). (hollywoodreporter.com)
• Can AI help us find content in the long tail? (newsletter.drorpoleg.com)

NBA

• The NBA took the Clippers' salary cap circumvention seriously. (theringer.com)
• A summary of the NBA's findings on the LA Clippers and Kawhi Leonard. (huddleup.substack.com)
• 22 suggestions to fix the NBA, including 'Lose the conferences.' (theringer.com)

Gambling

• How Circa's Survivor contest became a phenomenon. (espn.com)
• Kalshi is all over the US Open this year. (benrothenberg.com)
• Is the Supreme Court going to decide the fate of prediction markets? (politico.com)

Sports

• How HD changed how we watch sports. (neilpaine.substack.com)
• Sports insiders are NOT journalists. (awfulannouncing.com)

Children

• AI is turning students into cheats. (theatlantic.com)
• How to help children adapt to a new school year. (joylere.substack.com)
• Why smartphone bans in school don't show bigger effects. (newyorker.com)
• Has youth football done enough to reduce head impacts? (msn.com)

Earlier on Abnormal Returns

• What you missed in our Friday linkfest. (abnormalreturns.com)
• On the high cost of adulting in America today. (abnormalreturns.com)
• 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)

Mixed media

• At this point, simply re-buildilng after a natural disaster is short-sighted. (nytimes.com)
• Asheville, NC has a glut of apartments for rent. (therebuild.pub)
• The battle over Florida's beaches is heating up. (npr.org)

Bonds

• The correlation between stocks and interest rates is now negative. (axios.com)
• Norway's sovereign wealth fund is considering a reduction in bond holdings. (reuters.com)

Gold

• Netherlands is moved some of its gold holdings from New York to London. (wsj.com)
• They may not be the last to do this. (paulkrugman.substack.com)
• Mary Childs talked with Jacob Goldstein, author of "Money: The True Story of a Made-Up Thing." (youtube.com)

Finance

• Oura Health has filed for an IPO. (techcrunch.com)
• Softbank needs money. (ft.com)

Fund management

• A look at the difference between public REITs and semiliquid direct real estate funds. (morningstar.com)
• Investors are still looking to pull money from private credit funds. (barrons.com)

Anti-trust

• Google ($GOOGL) lost three antitrust cases and will pay little cost. (arstechnica.com)
• The Trump administration has only brought one action to block a merger so far, and quickly settled. (theatlantic.com)

Data centers

• Putting the scale of AI data center construction into perspective. (tomtunguz.com)
• Is it possible to build data centers that people won't hate? (wsj.com)
• What would it mean to actually host data centers in space? (starbench.substack.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)

Food

• Italian pasta maker Barilla Group is buying Goodles. (fastcompany.com)
• Can Jersey Mike's ($JMKE) appeal to Gen Z? (wsj.com)
• The Luckin Coffee turnaround is something. (ft.com)

Oil

• Diesel prices are at record high prices. (axios.com)
• It's hard to see how intervening in Venezuela's oil industry ends well. (theatlantic.com)

Economy

• The August NFP report showed 129k private sector jobs gained and a 4.1% unemployment rate. (bonddad.blogspot.com)
• How higher gasoline and diesel prices affect consumer sentiment. (fa-mag.com)
• Nominal wage growth is slowing. (newsletter.platypuseconomics.com)

Earlier on Abnormal Returns

• What you missed in our Thursday linkfest. (abnormalreturns.com)
• Longform links: intellectual humility. (abnormalreturns.com)
• The high cost of adulting in America today. (abnormalreturns.com)

Mixed media

• Why we love stories about art heists. (artnews.com)
• The art market is becoming even more top heavy. (theartnewspaper.com)
• How wealth has reshaped the art market. (ft.com)

Bonds

• How rising rates should change how you think about the bond market. (barrons.com)
• Your bond allocation shouldn't give you agita. (morningstar.com)

Strategy

• Why your investment strategy should change over time. (awealthofcommonsense.com)
• Lessons learned from Victor Niederhoffer's long and volatile career. (ritholtz.com)

Venture capital

• How venture capital lost its way, and worse. (anildash.com)
• VCs who missed OpenAI and Anthropic are reassessing their processes. (nytimes.com)
• Not every business is meant to scale, but if you take venture capital you have to. (aswathdamodaran.blogspot.com)
• Are there VC businesses that are AI-proof? (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)

Food

• Foodborne illnesses typically doesn't peak until late Summer, early Fall. (wired.com)
• Lettuce farmers are abandoning healthy crops. (nytimes.com)
• This Summer's outbreaks could have been a lot worse. (theatlantic.com)

Mideast

• Russia is reportedly helping Iran build supersonic missiles. (giftarticle.ft.com)
• Qatar gave Trump a 747. In return it got a regional war. (theatlantic.com)
• An Abu Dhabi royal holds a sizeable stake in the World Financial Liberty bank operation. (wsj.com)

Economy

• The data center boom is accelerating. (axios.com)
• The economy continues to grow without a lot of hiring. (bonddad.blogspot.com)
• Employer health costs are set to surge in 2027. (nytimes.com)

Earlier on Abnormal Returns

• Longform links: intellectual humility. (abnormalreturns.com)
• The high cost of adulting in America today. (abnormalreturns.com)
• What you missed in our Wednesday linkfest. (abnormalreturns.com)
• Personal finance links: supercharged fraud. (abnormalreturns.com)

Mixed media

• Florida is removing Flock cameras from its highways. (abcnews.com)
• This is why people don't trust police with Flock Safety cameras. (reason.com)
• A policeman's case for Flock Safety, absent the abuses. (worksinprogress.news)

Books

• An excerpt from "The Time Tax: How the Government Wastes Our Time―and How to Fix It" by Annie Lowrey. (theatlantic.com)
• Kai Bird’s "American Scoundrel: Roy Cohn’s Dark Journey From Joe McCarthy to Donald Trump" explains a lot. (slate.com)
• An excerpt from “The Invisible Hand of Maria Edgeworth: How a Nineteenth-Century Novelist Taught the World Economics” by Jeanna Smialek. (nytimes.com)
• An excerpt from "Ausländer: One Family’s Story of Escape and Exile" by Michael Moritz. (colossus.com)
• An excerpt from “The Playbook: The Hidden Forces Shaping Winners and Losers in the Modern NFL” by Joshua Robinson and Jonathan Clegg. (wsj.com)

Business

• Joseph Lawler, "No one will ever cherish a plot of land as much as someone who has a long-term ownership and residence interest in it." (thenewatlantis.com)
• If England can tame the East India Company, the U.S. can tame tech companies. (nytimes.com)
• Dolly Parton managed her businesses with great skill. (wsj.com)

Politics

• The federal government is effectively at war with the state of Minnesota. (newyorker.com)
• Offshore clipping services provide a steady stream of videos in support of the GOP. (theatlantic.com)

Longreads

• How the Strategic Petroleum Reserve is supposed to work. (construction-physics.com)
• We can safely sacrifice mosquito species that prey on humans. (unchartedterritories.tomaspueyo.com)
• Group chats are the last refuge for online sociability. (newyorker.com)
• Can you get ahead in America today without wealthy parents? (abnormalreturns.com)
• What happens when vaccine denial crashes into a custody dispute. (newyorker.com)
• A profile of champion ultra-marathon runner Rachel Entrekin. (runnersworld.com)

Markets

• Some random market insights including: Nvidia's ($NVDA) forward P/E keeps falling. (awealthofcommonsense.com)
• Diesel prices remain $2 a gallon above where they were pre-Iran war. (econbrowser.com)

Strategy

• Why market pundits are doing you any favors. (behaviouralinvestment.com)
• The stocks of great companies show big drops more often than you think. (brianferoldi.substack.com)

Companies

• Google ($GOOGL) dodged a break up of its ads business. (axios.com)
• Novo Nordisk ($NVO) is betting on weight loss pills. (nytimes.com)
• It sure looks like someone knew a deal for GoPro ($GPRO) was coming. (ft.com)

ETFs

• TIPS look attractive, but it's not as simple as buy a TIPS ETF. (morningstar.com)
• Institutional investors are swapping between the iShares Core S&P 500 ETF ($IVV) and Vanguard S&P 500 ETF ($VOO) to avoid dividends for tax purposes. (bloomberg.com)
• These ETFs generate the most implied revenue for sponsors. (etf.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)

Europe

• How heat impacted Europe this summer. (wsj.com)
• Do Germans need to work longer and harder? (ft.com)
• The Maldives is a way station for Russian evasion of Western sanctions. (wsj.com)
• Spaniards are starting to eat dinner earlier. (marginalrevolution.com)

Jobs

• Some early evidence that AI is impacting jobs. (dallasfed.org)
• The college wage premium is shrinking. (marginalrevolution.com)

Economy

• We are still in a low hire/low fire economy. (bonddad.blogspot.com)
• A review of Kevin Warsh's Jackson Hole speech. (stayathomemacro.substack.com)
• How rising interest rates affect the debt/GDP ratio. (klementoninvesting.substack.com)

Earlier on Abnormal Returns

• Personal finance links: supercharged fraud. (abnormalreturns.com)
• What you missed in our Tuesday linkfest. (abnormalreturns.com)
• Research links: stock-specific volatility. (abnormalreturns.com)

Mixed media

• A look at the scale of plastic pollution in the oceans and waterways. (reasonstobecheerful.world)
• Natural fibers are not necessarily better than man-made. (theatlantic.com)
• The case for landfills. (worksinprogress.news)