Thursday links: extreme uncertainty
Tadas Viskanta
Abnormal Returns
1 week ago
3 MIN READ
Volatility
- The S&P 500 has gone up 9%+ six times in history. (priceactionlab.com)
- A great reminder that stock market volatility clusters. (sherwood.news)
- This was the fourth most volatile week in 60 years. (stocktwits.com)
Markets
- The big picture isn’t a pause in tariffs but an entirely different way of interacting with the rest of the world. (howardlindzon.com)
- Is the U.S. getting a big downgrade from investors? (sherwood.news)
Strategy
- Why you need a portfolio strategy you can stick with. (fortunesandfrictions.com)
- How bear markets expose your fears. (disciplinefunds.com)
- A review of two new recent investment books “The Humble Investor” by Dan Rasmussen and “How NOT to Invest” by Barry Ritholtz. (wsj.com)
Private equity
- Higher credit spreads are a new headwind for private equity. (bloomberg.com)
- How private equity could remake the legal industry. (ft.com)
Sports gambling
- 38 states have legal sports gambling, but illegal gambling isn’t going anywhere. (msn.com)
- Kalshi is real competition to the established sports books. (sportico.com)
- Sports gambling has boomed without much of a public debate about its merits. (slate.com)
Tariffs
- Even after a pause, tariffs are at their highest level in a century. (econbrowser.com)
- All the bad faith arguments for tariffs including ‘Tariffs will make America more manly.’ (noahpinion.blog)
- We are going to miss free-ish trade when its gone. (bloomberg.com)
- You could start seeing ‘tariff surcharges’ on your receipts. (wired.com)
China
- China is unlkely to capitulate to Trump any time soon. (danieldrezner.substack.com)
- China’s green energy sector will likely shrug off tariffs. (semafor.com)
- What happens if China cuts off rare earth exports to the U.S.? (economist.com)
DOGE
- DOGE has fired NHTSA workers who examine safety at companies like….Tesla ($TSLA). (arstechnica.com)
- Nilay Patel talks with Rohit Chopra, the former director of the Consumer Financial Protection Bureau. (theverge.com)
- Elon is the face of DOGE. Who is running things behind the scenes? (bloomberg.com)
Economy
- What is the Kindleberger Trap? (mrzepczynski.blogspot.com)
- A hat tip to the bond vigilantes. (ft.com)
Earlier on Abnormal Returns
- Longform links: squandering our inheritance. (abnormalreturns.com)
- What you missed in our Wednesday linkfest. (abnormalreturns.com)
- Personal finance links: the golden age of scams. (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 media
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