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Quote of the Day

"If you build lots of good cars and sell them for more money than it costs you to build them, then you will make a lot of money and no amount of desperate pushing of narrative will result in your destruction...Just do the work and let your results speak for themselves."

(Matt Levine)

Chart of the Day

This is perplexing for everyone who thought the US stock market would underperform from January 2017 onward…