Review: Edward Luce thinks The Complacent Class: The Self-Defeating Quest for the American Dream by Tyler Cowen is “captivating” and a little scary. (FT)

Quote of the Day

"Financial planning and investing are ongoing processes. What is right today, might not be right tomorrow. Don’t waste time trying to attach a cause to every effect."

(Tim Brennan)

Chart of the Day

10 year Treasury yields are once again in excess of S&P 500 dividend yields.