Wednesday links: apathetic markets

Strategy

• Three keys to successful investing including ‘Trying to time the market is a loser’s game.’ (larryswedroe.substack.com)
• Being less stupid is easier than getting smarter. (betterletter.substack.com)

Fund management

• In praise of keeping things simple. (nadig.com)
• The role licensing fees play in the index fund business. (morningstar.com)
• A history of trend following funds. (rupakghose.substack.com)

Companies

• YouTube just keeps finding new ways to grow. (theverge.com)
• Duolingo is branching out into teaching chess. (venturebeat.com)
• Zyn is flying off the shelves. (sherwood.news)

AI

• Google’s AI efforts are focused on the enterprise. (venturebeat.com)
• AI companies are hooking Gen Z. (theatlantic.com)
• In the face of AI, how design is changing. (fastcompany.com)

Martin Wolf

• The Trump administration has raised uncertainty, not reduced it. (on.ft.com)
• Joe Weisenthal and Tracy Alloway talk with Martin Wolf about how Trump has upended the world order. (podcasts.apple.com)

Economy

• New home sales are flattening out. (bonddad.blogspot.com)
• The longer uncertainty reigns, the worse for the economy. (disciplinefunds.com)
• Why we need Fed independence. (stayathomemacro.substack.com)

Earlier on Abnormal Returns

• Personal finance links: dignity and meaning. (abnormalreturns.com)
• What you missed in our Tuesday linkfest. (abnormalreturns.com)
• Research links: costing too much. (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

• The FDA is suspending a quality control program for testing of fluid milk and other dairy products. (reuters.com)
• Due to FDA cuts, pet food is getting even less oversight. (theincidentaleconomist.com)