Wednesday links: doing it again

Markets

• ‘Sell America’ includes selling Treasurys. (morningstar.com)
• Signs of stress in the Treasury market. (ft.com)
• Don’t hold your breath waiting for an emergency Fed rate cut. (thebasispoint.com)

Strategy

• If other people want to trade, let them. (bestinterest.blog)
• Why trend following strategies are benefiting YTD. (rcmalternatives.com)

Apple

• What Apple ($AAPL) could do in the face of tariffs. (macworld.com)
• Nothing Apple ($AAPL) did staved off tariffs. (spyglass.org)
• How Apple ($AAPL) could be a force for good in health. (macworld.com)

Business

• It’s easy to forget that Nvidia’s ($NVDA) stock price fell some 90% two times. (theatlantic.com)
• Dual-class share structures are about more than corporate strategy. (theconversation.com)
• Greenhushing is now a thing. (grist.org)

Startups

• Hedge funds are are in no rush to jump back into the VC pool. (institutionalinvestor.com)
• Not every startup needs to shoot for the (unicorn) moon. (mattgiustwilliamson.substack.com)
• a16z is looking to raise a $20 billion AI-focused fund. (reuters.com)

Tariffs

• Derek Thompson, “Even if you were convinced that imposing tariffs on imports from every country in the world was a good idea, there is still no defense for the way this policy is being rolled out.” (theatlantic.com)
• The new tariff regime is confused and contradictory. (fpcs.es)
• Trump is not listening to the stock market. (theatlantic.com)
• Congress (and the Supreme Court) could stop all this. (bonddad.blogspot.com)
• Ben Thompson, “The problem with these tariffs is that their scale and indiscriminate nature will have the effect of destroying demand and destroying the capability to develop alternative supply.” (stratechery.com)

Earlier on Abnormal Returns

• Personal finance links: the golden age of scams. (abnormalreturns.com)
• What you missed in our Tuesday linkfest. (abnormalreturns.com)
• Research links: index volatility. (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

• Thrift stores could see a boost under tariffs. (axios.com)
• Want Masters swag? Head to the Augusta Goodwill store. (brobible.com)
• Mega Millions ticket prices are going up. (axios.com)