Review: The Diversity Bonus: How Great Teams Pay Off in the Knowledge Economy by Scott E. Page explains the benefits of cognitive and identity diversity.  (Reading the Markets)

Quote of the Day

"Over the 30 years since the crash, I have witnessed time and again some of the smartest people in the world undone by making emotional investment decisions based on very short-term events."

(James O'Shaughnessy)

Chart of the Day

The main active bet of the smart beta universe is short exposure to the Size Factor (overweighting of smaller companies).