Sunday links: civic capital
Tadas Viskanta
Abnormal Returns
3 weeks ago
3 MIN READ
Strategy
- Market high-fliers can’t go up indefinitely. (awealthofcommonsense.com)
- Nobody ever said investing in the stock market was fun. (tker.co)
- Forecasting the impact of macro events isn’t always straightforward. (humbledollar.com)
Finance
- The structured finance industry is back, and is set to be bigger than ever. (wsj.com)
- How carried interest calculations work in practice. (cashandcarried.substack.com)
- Did you know Berkshire Hathaway ($BRK.A) owns RV manufacturer Forest River? (wsj.com)
Fund management
- The SEC has some issues with State Street ($STT). (riabiz.com)
- Why investors are willing to invest with a hedge fund manager best known for cratering their prior fund. (wsj.com)
Venture capital
- Willem Van Lancker, “Optionality is not freedom. It’s fear.” (terrain.com)
- Too much capital is as big a problem as not enough. (avc.xyz)
Conflicts of interest
- Speaker of the House Mike Johnson lives in a DC townhouse owned by a major GOP donor. (propublica.org)
- The FAA is looking for ways to pay for a Starlink deal. (rollingstone.com)
- Dr. Oz is hopelessly conflicted, from a financial perspective. (nytimes.com)
DOGE
- Elon Musk has been plotting the destruction of the federal government for awhile now. (nytimes.com)
- USAID has stopped payments on already fulfilled contracts. (propublica.org)
- DOGE laid off the GSA’s 18F team which works to make government systems work better. (theatlantic.com)
- Katie Gatti Tassin talks DOGE and more with Donald Cohen, co-author of “The Privatization of Everything: How the Plunder of Public Goods Transformed America and How We Can Fight Back.” (podcast.moneywithkatie.com)
- Zoë Schlanger, “It costs the public roughly $4 per year per person to keep the National Weather Service functioning.” (theatlantic.com)
- The NIH isn’t being reformed, its’ being gutted. (sensible-med.com)
- DOGE was never about saving money. (fastcompany.com)
Policy
- Canadian lumber tariffs will increase the cost of home construction and renovation. (axios.com)
- Some states, like West Virginia, are heavily dependent on Medicaid. (paulkrugman.substack.com)
- The USPS has a pension problem. (axios.com)
Economy
- Where manufacturing jobs are increasing. (agglomerations.substack.com)
- The economic schedule for the coming week. (calculatedriskblog.com)
Earler on Abnormal Returns
- Top clicks this week on the site. (abnormalreturns.com)
- What you missed in our Saturday links. (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 media
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