Book notes: How to Make Money with Global Macro by  Javier Gonzalez is a history lesson and look at the future.  (Reading the Markets)

Quote of the Day

"Tactical-allocation funds--investments that readily adjust their asset mixes in response to current market conditions--are a sucker’s play."

(John Rekenthaler)

Chart of the Day

How the Vanguard Effect has saved investors hundreds of billions of dollars.