Book review: Adaptive Asset Allocation: Dynamic Global Portfolios to Profit in Good Times – and Bad by Adam Butler, Michael Philbrick and Rodrigo Gordillo is well worth the price of admission. (Reading the Markets)

Quote of the Day

"The benefits of blogging and social media are obvious – the medium allows for a meritocracy of ideas and a fluid hierarchy made up of the people who share them. A hungry person, focused on learning, sharing and self-improvement can go very far. A thirsty person who doesn’t check his or herself will not go far. They will be stunted by their own rhetoric."

(Josh Brown)

Chart of the Day

On the benefits of short duration high yield bonds.