Review: Efficiently Inefficient: How Smart Money Invests & Market Prices Are Determined by Lasse Heje Pedersen is “encyclopedic in its cataloging of active management strategies..”  (Enterprising Investor)

Quote of the Day

"Too much leverage can make the losing trades unmanageable even if you’re actively protecting yourself with stop orders. Leverage is the how the markets provide a trader with more than enough rope to hang himself."

(Michael Martin)

Chart of the Day

How Apple ($AAPL) became the most valuable company in the world.