Book notes: Shane Parrish, “The Art of Stillness: Adventures in Going Nowhere [by Pico Iyer] is a persuasively argued case for the pleasures of slowing down and being in one place. The adventure of going nowhere but inside ourselves.”  (Farnam Street)

Quote of the Day

"If you have done great as an investor over the past five years, check your ego at the door. Almost everyone has done well. The true test of investor skill is how you react during times of panic and distress."

(Morgan Housel)

Chart of the Day

Gavyn Davies, “Equity price action has therefore been unusually buoyant at a time when some key fundamentals are not as supportive as they have been for several years. Increased caution may be warranted for a while.”