Book review: Reorg: How to Get it Right by Stephen Heidari-Robinson and Suzanne Heywood should be ready by anyone contemplating a corporate reorg.  (FT)

Quote of the Day

"The real barrier to entry is still knowledge of how markets work, how companies work, knowledge of how fundamentals work, knowledge of how macroeconomics works, knowledge of how microeconomics works. And if you can bring that knowledge to bear, you can harness that data in a more structured way, and build models that are less overcrowded..."

(Manoj Narang)

Chart of the Day

Closed-end municipal bond funds are neither fish nor fowl.