Book notes: The 19th century was rife with financial conspiracies. According to Janet Tavakoli, William Worthington Fowler’s Twenty Years of Inside Life in Wall Street or Reflections of the Personal Experience of a Speculator is “a joy to read.” (The Financial Report)

Quote of the Day

"Successful investors are intellectually curious and constantly seeking educational opportunities. They are analytical and appreciate the value of thorough research. They understand their own risk tolerances and use that self-awareness to develop robust portfolio management strategies uniquely tailored specifically to them."

(Grayson Roze)

Chart of the Day

For what it is worth crude oil is historically cheap relative to gold.