Review:The Index Revolution [by Charlie Ellis] belongs on the reading list of anyone grappling with the choice between active management and passive investing.”  (Enterprising Investor)

Quote of the Day

"That’s a major difference between bull and bear markets — the quality of those that can easily get unsecured loans."

(David Merkel)

Chart of the Day

Home prices are still well below their inflation-adjusted peak in 2006.

(wsj.com)