Book review: Richard L. Peterson’s Trading on Sentiment: The Power of Minds Over Markets is a “useful guide” to using sentiment in trading. (Reading the Markets)

Quote of the Day

"Mr Buffett’s particular genius is not that he is a great stock picker. His genius lies in the relentless clarity of his appreciation of the nature of business: focus on competitive advantage, find good management, give that management freedom with accountability only for results. And in his creation of a business model that follows those insights."

(John Kay)

Chart of the Day

Despite a decline in horse racing attendance Churchill Downs ($CHDN) has had a good run of late.