Book notes: The End of Accounting and the Path Forward for Investors and Managers by Baruch Lev and Feng Gu proposes wholesale changes in the way accounting deals with intangible assets. (Barron’s)

Quote of the Day

"The asset-management industry has blasted its spaghetti cannon, with investors playing the role of the wall."

(Ben Johnson)

Chart of the Day

Apps aren’t dead yet.