Quote of the Day

"(L)ife is sacrifice and risk taking, and nothing that doesn’t entail some moderate amount of the former, under the constraint of satisfying the latter, is close to what we can call life. If you do not undertake a risk of real, reversible or even potentially irreversible, harm from an adventure, it is not an adventure.

(Nassim Nicholas Taleb)

Chart of the Day

Bond index investors are getting less yield for more risk. (chart via Pimco)