Notes: Meb Faber thinks Tony Robbin’s new book Unshakeable: Your Financial Freedom Playbook is full of good advice but don’t actually let his RIA partners manage your money.  (Meb Faber Research)

Quote of the Day

"Anyone can sight and recite the risks most recently endured. Those lessons should not be ignored; but don’t worry, they won’t be. The emotional scars are such that we will remember the specific risks that caused our most recent trauma for a long time (and they will be overemphasized in our analyses for years)."

(Tom Brakke)

Chart of the Day

Estimated returns for the S&P 500 for the next decade.