Book note: Warren Buffett’s endorsement has pushed Jack Bogle’s The Little Book of Common Sense Investing: The Only Way to Guarantee Your Share of Stock Market Returns back onto the bestseller list. (MoneyBeat)
Quote of the Day
In short, while one can be willing to accept that there are smart fund managers who can outperform the market, the trick is identifying such managers in advance. This process seems as difficult as identifying hit films in advance; in that business, as William Goldman wrote once "Nobody knows anything".(The Economist)
Chart of the Day
Sometimes, the next big thing in the stock market is the last big thing: the case of biotech.