Read Michael Lewis’ The Big Short: Inside the Doomsday Machine before they make into a major motion picture with Brad Pitt, Christian Bale and Ryan Gosling.  (Slate)

Quote of the Day

"Good investment advice will always sound the best and make the most sense when looking back at the past or planning ahead for the future. It will rarely sound so great in the moment when you actually have to use it."

(Ben Carlson)

Chart of the Day

The story of the week was the decision by the SNB to abandon its peg to the Euro.