Review: Ten Great Ideas about Chance by Persi Diaconis and Brian Skyrms is “a history book, a probability book, and a philosophy book.” (Reading the Markets)

Quote of the Day

"Opacity might not be good for our financial health, but it sure does taste sweet. Sugar is not an acquired taste."

(John Rekenthaler)

Chart of the Day

The rise in high yield bond spreads is not all that spectacular.