Sunday links: a common thread
MarketsDave Nadig, "You are on your own. There are few left to trust." (davenadig.substack.com)Unfortunately, there is no going back. (howardlindzon.com)StrategyGlobal diversification also means currency diversification. (disciplinefunds.com)Investing success is only knowable in hindsight. (microcapclub.com)CryptoThe largest crypto theft of all-time just went down. (theblock.co)Stablecoin adoption keeps rising. (economist.com)Berkshire HathawayThe 2024 Berkshire Hathaway ($BRK.A) annual shareholder letter is out (berkshirehathaway.com)Don't ever mistake Warren Buffett as a bear on American business. (tker.co)Berkshire's insurance businesses did well in 2024. (morningstar.com)What Berkshire could look like decades down the road. (newsletter.rationalwalk.com)FinanceWhy private equity loves the insurance business. (cashandcarried.substack.com)There is no shortage of commercial real estate loans that need to be refinanced. (apolloacademy.com)ETFsMoney market ETFs are here. Expect more. (riabiz.com)Even Vanguard investors overtrade their ETF holdings. (jeffreyptak.substack.com)GlobalWhy Trump's swerve towards Putin shouldn't be surprising. (wsj.com)Why Trump/Musk seem hell-bent on surrendering to Russia and China. (noahpinion.blog)Why Putin wants to erase Ukraine's history. (wsj.com)The Trump administration is further punishing Afghan refugees. (propublica.org)How the demise of USAID has affected Kenya. (ft.com)Japan's biggest threat is demographic collapse. (unchartedterritories.tomaspueyo.com)TaxesDefunding the IRS gives tax scofflaws a leg up. (axios.com)Will cutbacks at the IRS cause more taxpayers to cut corners? (marketwatch.com)Who is helped by removing the SALT cap? (agglomerations.substack.com)Warren Buffett on why paying taxes is patriotic. (bloomberg.com)LawWhy some law firms are happy to participate in an assault on the legal system. (publicnotice.co)The administration has ordered the shutdown of the nationwide database tracking misconduct by federal police officers. (axios.com)What it was like to be a January 6th case juror. (wapo.st)SpendingWhere DOGE claims to have cut spending. (wsj.com)A breakdown of how the U.S. government spent money in 2024. (usafacts.org)Don't believe the hype. The Social Security Administration is pretty efficient. (bloomberg.com)Cutting federal jobs can mean a loss of valuable technical expertise. (axios.com)Dismantling the bureaucracy is from the autocrat's playbook. (theconversation.com)Federal workers are being made to feel like criminals. (theatlantic.com)EconomyWhy higher egg prices make us feel so bad. (awealthofcommonsense.com)Credit spreads are ignoring rising economic policy uncertainty. (apolloacademy.com)The economic schedule for the coming week. (calculatedriskblog.com)Earlier on Abnormal ReturnsTop clicks last week on the site. (abnormalreturns.com)What you missed in our Saturday linkfest. (abnormalreturns.com)You can now follow us on Bluesky. (bsky.app)Are you signed up for daily e-mail newsletter? Well, you should. (abnormalreturns.com)Mixed mediaNever interfere with the enemy when they are in the process of destroying themselves. (worldpoliticsreview.com)How Gen Z is navigating an increasingly unpredictable world. (kyla.substack.com)How not to suffer from information overload. (commoncog.com)
Markets
- Dave Nadig, "You are on your own. There are few left to trust." (davenadig.substack.com)
- Unfortunately, there is no going back. (howardlindzon.com)
Strategy
- Global diversification also means currency diversification. (disciplinefunds.com)
- Investing success is only knowable in hindsight. (microcapclub.com)
Crypto
- The largest crypto theft of all-time just went down. (theblock.co)
- Stablecoin adoption keeps rising. (economist.com)
Berkshire Hathaway
- The 2024 Berkshire Hathaway ($BRK.A) annual shareholder letter is out (berkshirehathaway.com)
- Don't ever mistake Warren Buffett as a bear on American business. (tker.co)
- Berkshire's insurance businesses did well in 2024. (morningstar.com)
- What Berkshire could look like decades down the road. (newsletter.rationalwalk.com)
Finance
- Why private equity loves the insurance business. (cashandcarried.substack.com)
- There is no shortage of commercial real estate loans that need to be refinanced. (apolloacademy.com)
ETFs
- Money market ETFs are here. Expect more. (riabiz.com)
- Even Vanguard investors overtrade their ETF holdings. (jeffreyptak.substack.com)
Global
- Why Trump's swerve towards Putin shouldn't be surprising. (wsj.com)
- Why Trump/Musk seem hell-bent on surrendering to Russia and China. (noahpinion.blog)
- Why Putin wants to erase Ukraine's history. (wsj.com)
- The Trump administration is further punishing Afghan refugees. (propublica.org)
- How the demise of USAID has affected Kenya. (ft.com)
- Japan's biggest threat is demographic collapse. (unchartedterritories.tomaspueyo.com)
Taxes
- Defunding the IRS gives tax scofflaws a leg up. (axios.com)
- Will cutbacks at the IRS cause more taxpayers to cut corners? (marketwatch.com)
- Who is helped by removing the SALT cap? (agglomerations.substack.com)
- Warren Buffett on why paying taxes is patriotic. (bloomberg.com)
Law
- Why some law firms are happy to participate in an assault on the legal system. (publicnotice.co)
- The administration has ordered the shutdown of the nationwide database tracking misconduct by federal police officers. (axios.com)
- What it was like to be a January 6th case juror. (wapo.st)
Spending
- Where DOGE claims to have cut spending. (wsj.com)
- A breakdown of how the U.S. government spent money in 2024. (usafacts.org)
- Don't believe the hype. The Social Security Administration is pretty efficient. (bloomberg.com)
- Cutting federal jobs can mean a loss of valuable technical expertise. (axios.com)
- Dismantling the bureaucracy is from the autocrat's playbook. (theconversation.com)
- Federal workers are being made to feel like criminals. (theatlantic.com)
Economy
- Why higher egg prices make us feel so bad. (awealthofcommonsense.com)
- Credit spreads are ignoring rising economic policy uncertainty. (apolloacademy.com)
- The economic schedule for the coming week. (calculatedriskblog.com)
Earlier on Abnormal Returns
- Top clicks last week on the site. (abnormalreturns.com)
- What you missed in our Saturday linkfest. (abnormalreturns.com)
- You can now follow us on Bluesky. (bsky.app)
- Are you signed up for daily e-mail newsletter? Well, you should. (abnormalreturns.com)
