Endorsement: “As far as I’m concerned, there isn’t anyone who shouldn’t read Drop the Ball: Achieve More by Doing Less [by Tiffany Dufu].”  (Business Insider)

Quote of the Day

"There is also no financial reason that dictates that commodities must exhibit mean reversion. They provide no dividends or income. They don’t have earnings. Commodities are more of an input than a financial asset. In many ways, a bet for commodities is a bet against technology and innovation."

(Ben Carlson)

Chart of the Day

Ferrari ($RACE) doesn’t sell cars. It sells Veblen goods.