Notes: The story of butter is the story of America. Insights from Elaine Khosrova’s Butter: A Rich History.  (Washington Post)

Quote of the Day

"They lose money on every car, they have a constant cash drain, and yet everybody talks as if this is the most miraculous automobile company of all time."

(Bob Lutz on Tesla)

Chart of the Day

The percentage of stocks above their 200-day moving average is once again on the rise.