Book review: Zac Bissonnette’s The Great Beanie Baby Bubble: Mass Delusion and the Dark Side of Cute is a unique American story “artfully told.”  (WSJ)

Quote of the Day

"If you're going to do buy-and-hold, pay as little as possible and understand your disposition. If you're like me and you have plenty of behavioral biases, come up with a systematic way to implement it."

(Mebane Faber)

Chart of the Day

Transports are now underperforming.