Weekend Reads - Oct 25, 2025

Investing in Everything, Everywhere, All at Once; Thematic Investing: A Risk-Based Perspective; How Private Companies Are Reshaping Public Markets; The US Really is Two Economies in One; and more...

• Investing in Everything, Everywhere, All at Once (GS)

• Thematic Investing: A Risk-Based Perspective (Alpha Architect)

• How Private Companies Are Reshaping Public Markets (Morningstar)

• The US Really is Two Economies in One (Klement on Investing)

• Invest Like You Are Bad at Making Predictions (Behavioural Investment)

• Is the Degradation of Trend Following Performance a Cohort Effect, Instrument Decay, or an Environmental Problem? (This Blog is Systematic)

• Opposing Ideas. A Necessary Ingredient for a Diversified Portfolio (Verdad)

• A Trend Following Deep Dive: AI, Agents and Trend (Man)

• Bucket Shops, Crypto, and Flash Crashes (John Hempton’s Newsletter)

• Lifespan of AI Chips: The $300 Billion Question (CITP Blog)

• Bitcoin vs. Gold: The Future of Central Bank Reserves by 2030 (DB)

• Jason Zweig on Clarity, Skepticism, and the Psychology of Investing (📺 CFA Institute)

• Richard Sutton – Father of RL thinks LLMs are a dead end (📺 Dwarkesh Patel)

• Portfolio Design in a Distorted World ft. Andrew Beer (🎧 Top Traders Unplugged)

• Populist Leaders and the Economy by Funke et al. (AER)

• Equal-Weighting: The Contrarian Trading View by Rabault et al. (SSRN)

• Bond-Stock Comovements by Campbell et al. (SSRN)

• The Impact of Retail Investors’ Online Activity on U.S. Stock Market Volatility (2020-2025) by Saharkhiz (SSRN)