Book review: The Smartest Places on Earth: Why Rustbelts are the Emerging Hotspots of Global Innovation, by Antoine van Agtmael and Fred Bakker provides hope for former industrial hotspots. (FT)

Quote of the Day

"I would say if someone sends you a slick ad on financial services, ignore them. Always. Do your own research. The best firms don’t advertise, because they don’t have to."

(David Merkel)

Chart of the Day

The percentage of NYSE stocks above their 200 day moving average is on the rise.