Book excerpt:  Winning at Active Management: The Essential Roles of Culture, Philosophy, and Technology by Priest, Bleiberg, Welhoelter and Keefe.  (Barron’s)

Quote of the Day

"Corporate governance arrangements that work when a founder is 30 may not work terribly well when that person is 93. To put it another way, people and founders change."

(Steven Davidoff Solomon)

Chart of the Day

There is a bubble in indexes.