Notes: Silicon Valley types love the A Culture Novel series by sci-fi writer Iain M. Banks.  (Economist)

Quote of the Day

"Tesla has ascended into a rarefied realm of so-called story stocks — companies that have so bewitched investors that their stock prices are impervious to any traditional valuation measures because their stories are simply too good not to be true."

(James B. Stewart)

Chart of the Day

The American stockmarket’s index weight is also more than double the country’s share of global GDP.