Excerpt: How Ray Dalio author of Principles: Life and Work, came to support radical openness at Bridgewater Associates.  (Fortune)

Quote of the Day

"While there is little doubt that too much short-termism has negative effects, one should not assume that it follows that extreme long-termism is always for the best. The latter can be dangerous when long-term thinkers fall for fanciful narratives or investor cults."

(Izabella Kaminska)

Chart of the Day

If you got sector weights right this year you outperformed.