Notes: Stanford wants incoming freshmen to read Elizabeth Kolber’s The Sixth Extinction: An Unnatural History.  (Business Insider)

Quote of the Day

"The Fed should examine a tenet of the central-banking faith: that transparency is always virtuous. By being less transparent—and reserving the option of deliberately ambushing investors with a shock move—the Fed could discourage them from taking too much risk."

(Sebastian Mallaby)

Chart of the Day

MLPs shouldn’t move around with oil prices as much as they do.