Book review:  Misbehaving: The Making of Behavioral Economics by Richard Thaler is “both engrossing and highly relevant.”

Quote of the Day

"I love how he [Warren Buffett] criticizes hedge funds, yet he had the first hedge fund,” Mr. Loeb said. “He criticizes activists, he was the first activist. He criticizes financial services companies, yet he loves to invest in them. He thinks that we should all pay taxes, yet he avoids them himself.

(Dan Loeb)

Chart of the Day

Stocks are stuck in a range.