Book review: Streaming, Sharing, Stealing: Big Data and the Future of Entertainment by Michael D. Smith and Rahul Telang document a new era for entertainment.  (FT)

Quote of the Day

"There isn’t a [hedge] manager out there who isn’t thinking about lowering fees..."

(David Saunders)

Chart of the Day

Putting recent drawdowns into perspective.

(advisorperspectives.com)