The weekend is here! Pour yourself a mug of Colombia Tolima Los Brasiles Peaberry Organic coffee, grab a seat outside, and get ready for our longer-form weekend reads:
• All the arguments for Trump’s tariffs are wrong and bad: The President’s defenders are flailing. (Noahpinion)
• Nobody Knows (Yet Again): I want to point out that there are no experts on the subject at hand. Economists have analytical tools and theories to apply, but no economist and no tool will produce a conclusion in this instance that we can follow with confidence. There have been no large-scale trade wars in the modern era; thus, the theories are untested. Investors, businesspeople, academics, and government leaders will all give advice, but none of them is much more likely to be right than the average intelligent observer. The things on which everyone will agree are obvious, such as the likelihood of higher prices. The less obvious truths will be harder to discern. (Oaktree Capital)
• Americans Have $35 Trillion in Housing Wealth—and It’s Costing Them: Surging home equity is all the more important in a declining stock market. But it’s come with rising property taxes and higher hurdles for borrowing. (Wall Street Journal)
• Bluesky’s Quest to Build Nontoxic Social Media: X and Facebook are governed by the policies of mercurial billionaires. Bluesky’s C.E.O., Jay Graber, says that she wants to give power back to the user. (New Yorker)
• Americans Buy a Crazy Amount of Cheap Stuff. It’s Costing Us Dearly. Our mountain of clutter remains, even if tariffs bring an end to the era of low-cost goods. (Wall Street Journal)
• Scientists Are Mapping the Boundaries of What Is Knowable and Unknowable: Math and computer science researchers have long known that some questions are fundamentally unanswerable. Now physicists are exploring how physical systems put hard limits on what we can predict. (Wired)
• This Is the Holocaust Story I Said I Wouldn’t Write: For years, my friend’s father asked me to recount his childhood escape from the Nazis. Why did it take me this long? (New York Times)
• As a young man, I fell in love with the US. The country’s soul is still there, despite Trump’s best efforts to destroy it. For many of us, the United States means music, progress, hope. Whatever their president does, plenty of Americans continue to believe in those too. (The Guardian)
• The $200 Million Enigma Who Suddenly Learned How to Score: Ousmane Dembélé was known as an injury-riddled flop with a penchant for spectacular misses. Then, out of nowhere, he turned into one of the most lethal finishers in the game. (Wall Street Journal)
• ‘Jonah Hill keeps his teeth in a safe’: meet Hollywood’s top special-effects dentist: He made the ‘manky British’ set for Austin Powers, droppable ones for Mrs Doubtfire – and fangs for Tom Cruise. Gary Archer on crafting amazing gnashers for stars. (The Guardian)
Be sure to check out our Masters in Business this week with Tony Yoseloff, Managing Partner and Chief Investment Officer at the $35 billion Davidson Kempner. He is Chairman of the New York Public Library’s endowment, sits on the Board of Trustees of Princeton and the Board of Directors of its endowment, and is Vice Chair of the investment committee at New York-Presbyterian.
How Does the Stock Market Bottom
Source: Batnick
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