Book Q&A: A talk with William Goetzmann about his new book Money Changes Everything: How Finance Made Civilization Possible.  (The Atlantic)

Quote of the Day

"Styles and strategies tend to be cyclical, but we are humans and we extrapolate in straight lines, not in circles. The entire industry is branded with “past performance is not indicative of future results” because we are wired to think that way: in most other places, past performance is indicative of future results!"

(Patrick O'Shaughnessy)

Chart of the Day

Speaking of $VOO, it has had 70 straight months of inflows, which is ETF equivalent of Dimaggio’s hitting streak. (via @EricBalchunas)