Book review: Quality Investing: Owning the Best Companies for the Long Term by Lawrence A. Cunningham, Torkell T. Eide, and Patrick Hargreaves is “clearly and engagingly written.” (Reading the Markets)

Quote of the Day

"Historically in the Valley, the mantra has been 'Grow at any cost — get bigger, get bigger, get bigger,'" Cohn said. But, more recently, "the mantra has gone to: 'Cash flow, let's be profitable, let's make sure we are earning money and we've got a very sustainable business model.'"

(Gary Cohn)

Chart of the Day

The world’s stock market indices are in a bear market.