Sunday links: absolute vs. relative terms
Tadas Viskanta
Abnormal Returns
20 hours ago
3 MIN READ
Markets
- Risk is inherent in the stock market, concentration or not. (wsj.com)
- The U.S. stock market still trades at a premium to the rest of the world. (apolloacademy.com)
- The stock market is betting on hard infrastructure. (tomtunguz.com)
Endowment funds
- Endowment fund managers are being forced to rethink their private equity allocations. (wsj.com)
- College endowments withdrew a record amount of capital in FY 2025. (pitchbook.com)
- A look at recent endowment fund performance. (mrzepczynski.blogspot.com)
Finance
- How big is private credit’s exposure to software? (msn.com)
- Tokenization is real, and also kind of irrelevant. (etf.com)
- Once more into the ERShares Private-Public Crossover ETF ($XOVR) breach. (jeffreyptak.substack.com)
VCs
- The VC taboo about investing in portfolio company competitors is over. (bloomberg.com)
- It’s now quite normal for startup founders and employees to sell shares before an IPO. (wsj.com)
AI
- On the surge in AI deal making. (tomtunguz.com)
- Good luck trying to pick AI winners and losers. (awealthofcommonsense.com)
- Why the Super Bowl was a warning for AI investors. (acadian-asset.com)
- Why data centers are looking for locations downtown. (sherwood.news)
- The AI experiment is playing out in front of us in real time. (om.co)
Public health
- RFK Jr. is destroying the market for vaccines. (thebulwark.com)
- Apparently RFK Jr. misspoke at his confirmation hearings. (npr.org)
- RFK Jr. has seen a notable amount of push back from within the government and Congress. (politico.com)
- RFK Jr. loves AI. (theatlantic.com)
ICE
- Only small minority of those picked up by ICE had criminal records. (cbsnews.com)
- ICE detention centers are, not surprisingly, providing poor care to detainees. (nytimes.com)
- Insiders say the DHS is in turmoil. (wsj.com)
Policy
- Some state election officials now view the federal government as a bad actor. (theatlantic.com)
- The U.S. is giving up international influence for nothing in return. (ft.com)
- Kari Lake has been effective at one thing: hamstringing USAGM. (theatlantic.com)
Economy
- The economic soft landing is already here. (wsj.com)
- Office jobs were shrinking even before AI. (axios.com)
- Joe Weisenthal and Tracy Alloway talk about the upsides to inflation with Peterson Institute President Adam Posen. (podcasts.apple.com)
- The economic schedule for the coming week. (economicweekly.substack.com)
- When will AI show up in the macro data? (apolloacademy.com)
Earlier on Abnormal Returns
- Top clicks this week on Abnormal Returns. (abnormalreturns.com)
- What you missed in our Saturday linkfest. (abnormalreturns.com)
- Podcast links: betting on AI. (abnormalreturns.com)
- Don’t miss a thing! Sign up for our daily e-mail newsletter. (abnormalreturns.com)
Mixed media
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