Sunday links: a fighting chance
StrategyHow do you know when you are wrong about an investment? (polymathinvestor.com)Don't base your investments on economic forecasts. (humbledollar.com)CompaniesA good product is not sufficient to create a lasting enterprise. (tker.co)The loss of $20 billion a year with 100% margin would be a big deal to Apple ($AAPL). (bigtechnology.com)Airbnb ($ABNB) has changed how people travel. (quartr.com)Why you should expect more acquihires. (tomtunguz.com)ETFsStarting an ETF has never been easier or cheaper. That is no guarantee of success. (morningstar.com)What constitutes success one year in for an active ETF? (etf.com)GlobalVisits from the Pope are good for business. (klementoninvesting.substack.com)How the Houthis fought the U.S. Navy to a stalemate. (wsj.com)Tension between the U.S. and Canada is being felt in border towns. (nytimes.com)Why were Germany and Italy the last European countries to unify? (unchartedterritories.tomaspueyo.com)PolicyIf you are soleyly focused on tax cuts, then the deficit is unsolvable. (theatlantic.com)Under Trump everything is a national emergency. (npr.org)How many lives are aid cutbacks putting at risk? (cgdev.org)The entire Fulbright board has quit in protest. (axios.com)Revoking birthright citizenship would be chaos. (theatlantic.com)What it takes to get a pardon these days. (wapo.st)ImmigrationAlex Tabarrok, "Do we really want to spend billions to deport dishwashers from Oaxaca while rapes in Ohio committed by US citizens go under-investigated?" (marginalrevolution.com)The immigration strategy is already bumping up against reality on the ground. (slate.com)Part of the reason the U.S. economy has grown faster than the rest of the world is immigration. (semafor.com)Net immigration could turn negative in 2025. (wapo.st)ProtestPutting some estimates on the turnout to 'No Kings' protests. (gelliottmorris.com)In defense of traditional American values like free speech, democracy and immigration. (noahpinion.blog)EconomyHow a war-related jump in oil prices could affect the economy. (apolloacademy.com)How tariffs are already roiling the American economy. (apricitas.io)Where business cycle indicators stand in mid-June. (econbrowser.com)The economic cycle for the coming week. (calculatedriskblog.com)Earlier on Abnormal ReturnsTop clicks this week on the site. (abnormalreturns.com)What you missed in our Saturday linkfest. (abnormalreturns.com)Everyone in life (and investing) is running their own race. (abnormalreturns.com)Don't miss a thing! Sign up for our daily e-mail newsletter. (abnormalreturns.com)Mixed media8 insights from "Diet, Drugs, and Dopamine: The New Science of Achieving a Healthy Weight" by Dr. David Kessler. (npr.org)A review of "The Nvidia Way: Jensen Huang and the Making of a Tech Giant" by Tae Kim. (patientcapitalfund.substack.com)The case for reading "The Rider" by Tim Krabbe. (defector.com)
Strategy
- How do you know when you are wrong about an investment? (polymathinvestor.com)
- Don't base your investments on economic forecasts. (humbledollar.com)
Companies
- A good product is not sufficient to create a lasting enterprise. (tker.co)
- The loss of $20 billion a year with 100% margin would be a big deal to Apple ($AAPL). (bigtechnology.com)
- Airbnb ($ABNB) has changed how people travel. (quartr.com)
- Why you should expect more acquihires. (tomtunguz.com)
ETFs
- Starting an ETF has never been easier or cheaper. That is no guarantee of success. (morningstar.com)
- What constitutes success one year in for an active ETF? (etf.com)
Global
- Visits from the Pope are good for business. (klementoninvesting.substack.com)
- How the Houthis fought the U.S. Navy to a stalemate. (wsj.com)
- Tension between the U.S. and Canada is being felt in border towns. (nytimes.com)
- Why were Germany and Italy the last European countries to unify? (unchartedterritories.tomaspueyo.com)
Policy
- If you are soleyly focused on tax cuts, then the deficit is unsolvable. (theatlantic.com)
- Under Trump everything is a national emergency. (npr.org)
- How many lives are aid cutbacks putting at risk? (cgdev.org)
- The entire Fulbright board has quit in protest. (axios.com)
- Revoking birthright citizenship would be chaos. (theatlantic.com)
- What it takes to get a pardon these days. (wapo.st)
Immigration
- Alex Tabarrok, "Do we really want to spend billions to deport dishwashers from Oaxaca while rapes in Ohio committed by US citizens go under-investigated?" (marginalrevolution.com)
- The immigration strategy is already bumping up against reality on the ground. (slate.com)
- Part of the reason the U.S. economy has grown faster than the rest of the world is immigration. (semafor.com)
- Net immigration could turn negative in 2025. (wapo.st)
Protest
- Putting some estimates on the turnout to 'No Kings' protests. (gelliottmorris.com)
- In defense of traditional American values like free speech, democracy and immigration. (noahpinion.blog)
Economy
- How a war-related jump in oil prices could affect the economy. (apolloacademy.com)
- How tariffs are already roiling the American economy. (apricitas.io)
- Where business cycle indicators stand in mid-June. (econbrowser.com)
- The economic cycle for the coming week. (calculatedriskblog.com)
Earlier on Abnormal Returns
- Top clicks this week on the site. (abnormalreturns.com)
- What you missed in our Saturday linkfest. (abnormalreturns.com)
- Everyone in life (and investing) is running their own race. (abnormalreturns.com)
- Don't miss a thing! Sign up for our daily e-mail newsletter. (abnormalreturns.com)
Mixed media
- 8 insights from "Diet, Drugs, and Dopamine: The New Science of Achieving a Healthy Weight" by Dr. David Kessler. (npr.org)
- A review of "The Nvidia Way: Jensen Huang and the Making of a Tech Giant" by Tae Kim. (patientcapitalfund.substack.com)
- The case for reading "The Rider" by Tim Krabbe. (defector.com)
