Review: “Lo’s new book [Adaptive Markets: Financial Evolution at the Speed of Thought] is a fascinating exploration of the evolution of financial innovation.”  (Larry Swedroe)

Quote of the Day

"Uber is now big and important and messy enough to have its own activist battles -- but it is still private, which gives the activist battles an extra layer of weirdness."

(Matt Levine)

Chart of the Day

Merck ($MRK) stock higher after Trump bashes the CEO and company.