Companies Globalization has been good for the profit margins of U.S. companies. (tker.co) Ten of the best founder-led companies including Axon Enterprises ($AXON). (fiscal.ai) History says AI won’t end with mass unemployment. (humbledollar.com)...

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EVs How China came to dominate EVs. (bbc.com) The U.S. is ceding the market for EVs to the Chinese. (ft.com) AVs How much is Waymo worth to Google ($GOOGL)? (wsj.com) Autonomous vehicles now seem closer to reality. (fasterplease.substack.com) Waymo...

Strategy Why you shouldn’t fear all-time highs. (ritholtz.com) Compounding math is often confounding. (nytimes.com) Survivorship bias affects in any number of ways. (safalniveshak.com) Books A recommendation for Ben Wiener’s book “Fever Pitch:...

Economics Noah Smith talks abundance with Derek Thompson. (noahpinion.blog) Derek Thompson talks with NYC Democratic mayoral nominee Zohran Mamdani. (derekthompson.substack.com) Danny Crichton and Laurence Pevsner author of “Rebooting a Nation: The...

Strategy Stop looking for a turnaround in active management performance. (wealthmanagement.com) Set-it-and-forget-it is working for investors. (jeffreyptak.substack.com) Crypto In-kind redemption is coming for crypto ETFs. (theblock.co) Stablecoins may not...

Books A Q&A with Evan Osnos, author of “The Haves and Have-Yachts: Dispatches on the Ultrarich.” (npr.org) An excerpt from “Investable! When Pandemic Risk Meets Speculative Finance – A Cautionary Tale,” by Susan...

Rates Muni bonds are underperforming in 2025. (morningstar.com) T-bills are growing a percentage of outstanding U.S. government debt. (wsj.com) Crypto Recent SPAC deals have a decided crypto flavor. (bloomberg.com) Please don’t use those Bitcoin...

Podcasts Peter Mallouk and Charlie Bilello talk with Jonathan Clements about some big lessons. (podcasts.apple.com) Luca Dellanna and Ismail Manik talk with Barry Ritholtz about his book “How NOT to Invest.” (patternsandstories.substack.com)...

Strategy Joe Wiggins, “Many of the behaviours that have made humans such a successful species, also make it difficult to be good, long-term investors.” (behaviouralinvestment.com) Ten lessons from Warren Buffett including ‘Capitalism...