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Quote of the Day

"There is thus no conflict between worthwhile corporate investment and shareholder payouts. In fact, they tend to move together. When things are going well, managers have confidence to commit to long-term projects. They also have plenty of cash flow and easy access to the bond market to reward equity investors."

(Matthew C. Klein)

Chart of the Day

The best (and worst) performing US IPOs of 2018.

(ft.com)