Book notes: Some notes from Sebastian Mallaby’s classic on hedge funds More Money than God: Hedge Funds and the Making of a New Elite.  (Irrelevant Investor)

Quote of the Day

"We may be nearing the end of a cycle where growth is valued more than profitability..It could be at an inflection point."

(Bill Gurley)

Chart of the Day

If you missed Twitter ($TWTR) at the IPO you now have another chance.