Wednesday links: always in training

Quote of the Day "Great traders, like great athletes, are always in training--and they use their training to stay focused and motivated and to keep growing and learning new things." (Brett Steenbarger) Markets - What's behind the rise in Treasury yields? (ritholtz.com) - Falling earnings expectations would kill the bull market. (spilledcoffee.co) - Is this market more like the Nifty Fifty era than the Dotcom boom? (awealthofcommonsense.com) Managers - Great investors aren't exactly normal. (economist.com) - A big profile of Leopold Aschenbrenner, portfolio manager of Situational Awareness. (wsj.com) ETFs - SpaceX's ($SPCX) share of various index ETFs is going up. (morningstar.com) - A closer look at the Alpha Architect 1-3 Month Box ETF ($BOXX). (barrons.com) Finance - Why the alternative asset managers have struggled this year. (morningstar.com) - Victory Capital Holdings Inc. agreed to buy First Eagle Investments (bloomberg.com) - Signs that institutional investors are coming to embrace evergreen funds. (ft.com) - Concerns from Mark Walters are spreading through the insurance industry. (wsj.com) - Vanguard is buying upstart custodian Altruist. (wsj.com) Stay in touch - Don't miss a thing! Sign up for our daily e-mail newsletter. (abnormalreturns.com) - Work in wealth management? Sign up for our exclusive Talking Wealth newsletter. (talkingwealthpod.com) Chicken - How chicken came to dominate the global market for protein. (giftarticle.ft.com) - On the vast scale of the chicken industry in the U.S. (andymasley.com) Canada - Daniel Drezner, "The Trump administration’s political tactics have made securing a deal harder while providing powerful political incentives for Canada to stand firm." (danieldrezner.substack.com) - What does Trump want from Canada? (paulkrugman.substack.com) - Why toilet paper prices are headed higher. (theguardian.com) Writing - AI writing as a billionaire flex. (axios.com) - Proof of effort means something. (surfacearea.beehiiv.com) - Noah Brier, "Writing is anti-consensus." (whyisthisinteresting.substack.com) - Some advice on how to write. (thezvi.substack.com) Economy - Q2 PCE came in at 3.7%. Core at 3.3%. (wsj.com) - The spending gap, by wealth, is growing. (bonddad.blogspot.com) - Diesel prices are nearing a record high. (nytimes.com) - Fiscal issues are putting upward pressure on interest rates. (apollo.com) Earlier on Abnormal Returns - Personal finance links: safely spending a nest egg. (abnormalreturns.com) - What you missed in our Tuesday linkfest. (abnormalreturns.com) - Research links: judgment and accountability. (abnormalreturns.com) Mixed media - RIP, Dolly Parton. (theringer.com) - Dolly Parton, the last bipartisan icon. (wapo.st) - Dolly Parton's best skill may be as songwriter. (npr.org) - Dolly Parton’s “Dolly: A True Original Musical” will still open on Broadway. (variety.com) - How to contribute to Dolly Parton's Imagination Library. (donate.imaginationlibrary.com)