Book review: Roger Lowenstein’s book, America’s Bank: The Epic Struggle to Create the Federal Reserve should be read by any one interested in the history of markets.  (The Reformed Broker)

Quote of the Day

"Amazon is playing a different game than the rest of the industry. There is no “correct” valuation for Amazon because nothing like this has ever existed."

(Jeff Macke)

Chart of the Day

A big chunk of the world has negative bond yields. (via @MktOutperform)