Book review: Foolproof: Why Safety Can Be Dangerous and How Danger Makes Us Safe by Greg Ip is “excellent” and “compelling.” (Marginal Revolution, FT)

Quote of the Day

"The fact remains that the majority of investors in hedge funds are ill-equipped to invest in this space. Most people have been or will be dissappointed by their hedge fund investments."

(Ben Carlson)

Chart of the Day

This is the worst emerging market currency crisis since 1998.