Thursday links: always and never
StrategyNine things you can do when the world is on fire, including 'Tax loss harvest.' (disciplinefunds.com)Even when you know what will happen, you can't predict the market's reaction. (awealthofcommonsense.com)Investor behavior matters most at extremes. (behaviouralinvestment.com)What to do when great businesses go on sale. (flyoverstocks.com)CryptoHow North Korea continues to make a killing in crypto. (wsj.com)Fidelity is making it easier to hold crypto in your IRA. (theblock.co)TariffsTariffs, if implemented, are an 'economic catastrophe.' (morningstar.com)If you are going to do tariffs, you have to be intentional. (ft.com)Expecting countries to do nothing in response is a mistake. (theatlantic.com)Trade deficits are not solely a function of trade policies. (danieldrezner.substack.com)The de minimis trade loophole is ending. (axios.com)How tariffs were calculated, we think. (theverge.com)Even before all this, country of origin rules are complex. (ft.com)Reshoring production isn't easy under the best of circumstances. (wsj.com)Green energy just got more expensive. (semafor.com)UncertaintyPaul Krugman, "Businesses can’t plan if they have no idea what to expect next. Foreign governments won’t make policies that help America if they don’t expect us to respond rationally." (paulkrugman.substack.com)Uncertainty is bad for planning. (ft.com)How spikes in policy uncertainty have historically affected markets. (apolloacademy.com)How geopolitical shocks affect markets and the economy. (klementoninvesting.substack.com)How tariffs could affect startups. (tomtunguz.com)MeaslesOn the prospects for a measles epidemic. (nytimes.com)Why some parents have changed their minds about measles vaccinations. (npr.org)The CDC buried a report documenting the relationship between low vaccination rates and measles cases. (arstechnica.com)EconomyManufacturing and services are showing weakness. Then add a trade war on top of it all. (bonddad.blogspot.com)Still no meaningful pickup in weekly initial unemployment claims. (calculatedriskblog.com)Earlier on Abnormal ReturnsLongform links: withstanding pain. (abnormalreturns.com)What you missed in our Wednesday linkfest. (abnormalreturns.com)Personal finance links: portfolio contortions. (abnormalreturns.com)You can now follow us on Bluesky. (bsky.app)Are you signed up for daily e-mail newsletter? Well, you should be. (abnormalreturns.com)Mixed mediaDavid Brooks, "The essence of the Trump agenda might be: We don’t like those damn foreigners." (nytimes.com)How Victor Orban's regime has wrecked Hungary. (theatlantic.com)Above all, Elon wants everyone to think he is smart. (garbageday.email)
Strategy
- Nine things you can do when the world is on fire, including 'Tax loss harvest.' (disciplinefunds.com)
- Even when you know what will happen, you can't predict the market's reaction. (awealthofcommonsense.com)
- Investor behavior matters most at extremes. (behaviouralinvestment.com)
- What to do when great businesses go on sale. (flyoverstocks.com)
Crypto
- How North Korea continues to make a killing in crypto. (wsj.com)
- Fidelity is making it easier to hold crypto in your IRA. (theblock.co)
Tariffs
- Tariffs, if implemented, are an 'economic catastrophe.' (morningstar.com)
- If you are going to do tariffs, you have to be intentional. (ft.com)
- Expecting countries to do nothing in response is a mistake. (theatlantic.com)
- Trade deficits are not solely a function of trade policies. (danieldrezner.substack.com)
- The de minimis trade loophole is ending. (axios.com)
- How tariffs were calculated, we think. (theverge.com)
- Even before all this, country of origin rules are complex. (ft.com)
- Reshoring production isn't easy under the best of circumstances. (wsj.com)
- Green energy just got more expensive. (semafor.com)
Uncertainty
- Paul Krugman, "Businesses can’t plan if they have no idea what to expect next. Foreign governments won’t make policies that help America if they don’t expect us to respond rationally." (paulkrugman.substack.com)
- Uncertainty is bad for planning. (ft.com)
- How spikes in policy uncertainty have historically affected markets. (apolloacademy.com)
- How geopolitical shocks affect markets and the economy. (klementoninvesting.substack.com)
- How tariffs could affect startups. (tomtunguz.com)
Measles
- On the prospects for a measles epidemic. (nytimes.com)
- Why some parents have changed their minds about measles vaccinations. (npr.org)
- The CDC buried a report documenting the relationship between low vaccination rates and measles cases. (arstechnica.com)
Economy
- Manufacturing and services are showing weakness. Then add a trade war on top of it all. (bonddad.blogspot.com)
- Still no meaningful pickup in weekly initial unemployment claims. (calculatedriskblog.com)
Earlier on Abnormal Returns
- Longform links: withstanding pain. (abnormalreturns.com)
- What you missed in our Wednesday linkfest. (abnormalreturns.com)
- Personal finance links: portfolio contortions. (abnormalreturns.com)
- You can now follow us on Bluesky. (bsky.app)
- Are you signed up for daily e-mail newsletter? Well, you should be. (abnormalreturns.com)
