Book excerpt: A look at Gillian Tett’s new book The Silo Effect: The Peril of Expertise and the Promise of Breaking Down Barriers.  (FT)

Quote of the Day

"(T)here are no holy grails. Nothing works all the time. If you don’t hate something in your portfolio most of the time then it probably means you’re not diversified."

(Cullen Roche)

Chart of the Day

What are the greatest fears of market participants?