Sunday links: the pain of tariffs
StrategyBen Carlson, "The pandemic turned us all into a bunch of degenerate gamblers." (awealthofcommonsense.com)How much active management do we need to have a relatively efficient stock market? (humbledollar.com)You have to stay in the game long enough to allow compounding to work. (buildingthingsthatlast.substack.com)CryptoA look at the few who made, and many that lost, money on $TRUMP. (nytimes.com)More endowments are allocating to Bitcoin. (on.ft.com)Prediction marketsRobinhood ($HOOD) is pushing back against the CFTC's decision to halt Super Bowl related futures contracts. (riabiz.com)It wouldn't take much to have sports gambling via prediction market providers legal across the country. (bloomberg.com)AppleWhy Apple ($AAPL) should ditch the App Store model. (macworld.com)A 2024 Apple ($AAPL) report card. (daringfireball.net)ImmigrationICE is continuing 'catch-and-release' policy. (axios.com)Guantanamo wasn't built for this. (politico.com)NIHHarlan M. Krumholz, "The NIH’s drastic reduction in indirect costs is not a path to innovation or cost savings — it’s a path to the erosion of the very system that has made the U.S. the global leader in medical research." (statnews.com)Some thoughts on how to better allocate NIH grants, prior to this week's goings-on. (sensible-med.com)USAIDThe damage from knee-capping USAID is going to mean that people die. (theatlantic.com)How the demise of PEPFAR could put millions of Africans at-risk. (wired.com)Destroying USAID plays into the hands of our enemies. (danieldrezner.substack.com)DOGEElon Musk's ultimate goal: replacing bureaucrats with technocrats. (wapo.st)On the damage that DOGE-types can do rummaging through sensitive government systems. (theatlantic.com)CFPBThe CFPB has ceased regulatory activities. (nbcnews.com)Cutting off funding to the CFPB will likely end up losing the government money. (housingwire.com)PolicyTrump 2.0 = Project 2025. (politico.com)The U.S. created a civil service because the spoils system was a disaster. (theatlantic.com)Once you break stuff, you can't simply unbreak it. (nytimes.com)The intelligence services are distracted. That's when mistakes happen. (econbrowser.com)This executive order is 'grotesque.' (marginalrevolution.com)EconomySigns of economic weakness are piling up. (calculatedriskblog.com)The U.S. is leading the developed world in economic growth, unfortunately it lags on nearly every other measure of societal health. (nytimes.com)How to make reasonable arguments for some targeted tariffs. (noahpinion.blog)Why central bank independence matters for inflation outcomes. (econofact.org)The economic schedule 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)You can now follow us on Bluesky. (bsky.app)Are you signed up for daily e-mail newsletter? Well, you should. (abnormalreturns.com)Mixed mediaIs Tom Brady worth $375 million to Fox? It depends how you measure it. (theatlantic.com)YouTube has killed the drama around Super Bowl ads. (slate.com)The Monday after the Super Bowl should probably be a holiday. (fastcompany.com)
Strategy
- Ben Carlson, "The pandemic turned us all into a bunch of degenerate gamblers." (awealthofcommonsense.com)
- How much active management do we need to have a relatively efficient stock market? (humbledollar.com)
- You have to stay in the game long enough to allow compounding to work. (buildingthingsthatlast.substack.com)
Crypto
- A look at the few who made, and many that lost, money on $TRUMP. (nytimes.com)
- More endowments are allocating to Bitcoin. (on.ft.com)
Prediction markets
- Robinhood ($HOOD) is pushing back against the CFTC's decision to halt Super Bowl related futures contracts. (riabiz.com)
- It wouldn't take much to have sports gambling via prediction market providers legal across the country. (bloomberg.com)
Apple
- Why Apple ($AAPL) should ditch the App Store model. (macworld.com)
- A 2024 Apple ($AAPL) report card. (daringfireball.net)
Immigration
- ICE is continuing 'catch-and-release' policy. (axios.com)
- Guantanamo wasn't built for this. (politico.com)
NIH
- Harlan M. Krumholz, "The NIH’s drastic reduction in indirect costs is not a path to innovation or cost savings — it’s a path to the erosion of the very system that has made the U.S. the global leader in medical research." (statnews.com)
- Some thoughts on how to better allocate NIH grants, prior to this week's goings-on. (sensible-med.com)
USAID
- The damage from knee-capping USAID is going to mean that people die. (theatlantic.com)
- How the demise of PEPFAR could put millions of Africans at-risk. (wired.com)
- Destroying USAID plays into the hands of our enemies. (danieldrezner.substack.com)
DOGE
- Elon Musk's ultimate goal: replacing bureaucrats with technocrats. (wapo.st)
- On the damage that DOGE-types can do rummaging through sensitive government systems. (theatlantic.com)
CFPB
- The CFPB has ceased regulatory activities. (nbcnews.com)
- Cutting off funding to the CFPB will likely end up losing the government money. (housingwire.com)
Policy
- Trump 2.0 = Project 2025. (politico.com)
- The U.S. created a civil service because the spoils system was a disaster. (theatlantic.com)
- Once you break stuff, you can't simply unbreak it. (nytimes.com)
- The intelligence services are distracted. That's when mistakes happen. (econbrowser.com)
- This executive order is 'grotesque.' (marginalrevolution.com)
Economy
- Signs of economic weakness are piling up. (calculatedriskblog.com)
- The U.S. is leading the developed world in economic growth, unfortunately it lags on nearly every other measure of societal health. (nytimes.com)
- How to make reasonable arguments for some targeted tariffs. (noahpinion.blog)
- Why central bank independence matters for inflation outcomes. (econofact.org)
- The economic schedule 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)
- You can now follow us on Bluesky. (bsky.app)
- Are you signed up for daily e-mail newsletter? Well, you should. (abnormalreturns.com)
