Sunday links: ambiguous terms

Quote of the Day "If someone tells you they’re bearish and their opinion matters to you, then you should also find out how much they expect prices to fall and over what time horizon." (Sam Ro) Strategy - Language matters when it comes to market analysis. (tker.co) - Gambling is a better business than stock brokerage. (trendlabs.com) - Does valuation matter any more? (giftarticle.ft.com) Companies - Berkshire Hathaway ($BRK.A) put some cash work in Q2 including share buybacks. (cnbc.com) - Elon Musk needs to keep the hype machine going at SpaceX ($SPCX). (wsj.com) - Private SaaS companies are scrambling for exits. (wsj.com) - Why Pfizer ($PFE) is struggling. (giftarticle.ft.com) AI - Just how badly did OpenAI mess up? (thezvi.substack.com) - AI is now a major election issue this Fall. (newyorker.com) - Do we really want AI creating new, novel viruses? (nytimes.com) Immigration - It's way too easy for the government to search your phone at the border. (theatlantic.com) - It certainly seems that the U.S. Citizenship and Immigration Services is slow walking legitimate applications. (axios.com) - H-1B exposure raised incomes for natives and pre-existing immigrants. (nber.org) - Be careful criticizing ICE on social media. (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) Government - The administration's attempt to save money is haphazard at best. (npr.org) - The story of how the Reflecting Pool repairs went so badly wrong. (nytimes.com) - It's hard for government watchdog groups to keep up with this administration. (theatlantic.com) - The administration is more interested in talking about foreign interference in elections than actually doing anything about it. (newyorker.com) - The DOJ's Reno office has no attorneys. (thenevadaindependent.com) Economy - When it comes to the economy, be careful what you wish for. (awealthofcommonsense.com) - The 'care economy' is holding up the jobs market. (newsletter.platypuseconomics.com) - The precautionary principle, higher taxes, and national debt. (davidnroberts.com) - The economic schedule for the coming week. (economicweekly.substack.com) Earlier on Abnormal Returns - Part 1 of our Q&A with Jack Raines, author of "Young Money: A Field Guide to Wealth and Purpose in Your Twenties." (abnormalreturns.com) - Part 2 of our Q&A with Jack Raines, author of "Young Money: A Field Guide to Wealth and Purpose in Your Twenties." (abnormalreturns.com) - Top clicks this week on Abnormal Returns. (abnormalreturns.com) - What you missed in our Saturday linkfest. (abnormalreturns.com)