Review: David Enrich’s The Spider Network: The Wild Story of a Math Genius, a Gang of Backstabbing Bankers, and One of the Greatest Scams in Financial History isa vivid depiction of the ethos of the core financial institutions upon which the global economy depends.”  (NYTimes)

Quote of the Day

"Pre-ordering coffee at scale is and always was a bad idea."

(Izabella Kaminski)

Chart of the Day

Diversified portfolios are full of ebbs and flows of relative asset class performance.