Gold Is the gold trade about eroding trust in the U.S.? (axios.com) What pundits are saying about the big gold rally. (ft.com) Is there a message in gold’s rally? (paulkrugman.substack.com) Strategy The best investors stay in the...

The Art of Spending Money Steven Bartlett talks with Morgan Housel, author of “The Art of Spending Money.” (youtube.com) Meb Faber talks with Morgan Housel, author of “The Art of Spending Money.” (podcasts.apple.com) Derek...

Markets Gold is not a risk-free asset. (bloomberg.com) Call buying is off the charts. (moontower.substack.com) Finance Have we reached peak proprietary trading? (on.ft.com) Intercontinental Exchange ($ICE) is taking a big stake in Polymarket....

Round-ups A round-up of recent academic research including ‘Equal-Weighting: The Contrarian Trading View.’ (alphainacademia.substack.com) A round-up or recent research including ‘Expected Stock Returns in Bullish...

Markets Gold is on its way to its best annual performance since 1979. (ft.com) Why pod shops have jumped into the commodities business. (rupakghose.substack.com) Strategy Seasonality is irrelevant for most investors. (optimisticallie.com) Don’t get...

Podcasts Michael Kitces talks with Larry Sprung, founder of Mitlin Financial, about being affiliated with Carson Group. (kitces.com) Jeff Malec talks with Brad Giaimo and Bruce Greig from Q3 Asset Management, about helping RIAs build out tactical...

Strategy The stock market does a better job calling bottoms than tops. (awealthofcommonsense.com) Why market timing is so challenging. (tker.co) Companies Reddit ($RDDT) is winning the AI game. (cjr.org) America loves warehouse stores. (barrons.com)...

Also on the site Be more human, because the alternative is taken. (abnormalreturns.com) With great gratitude, remembering Jonathan Clements. (With updated links). (abnormalreturns.com) Don’t miss a thing! Sign up for our daily e-mail...

AVs Banning self-driving cars is like cutting off your nose to spite your face. (theargumentmag.com) Waymo has been very deliberate in its roll out. (theatlantic.com) Women are more wary of self-driving cars. (theargumentmag.com) EVs EVs are going to...

Strategy Why the math behind picking winning stocks is so challenging. (tker.co) Illiquidity and a bubble are a bad combination. (harveysawikin.substack.com) Five insights from David Gardner’s book “Rule Breaker Investing: How to Pick the...