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Quote of the Day

“They [central counterparties] should be managed so they don’t fail...Like a nuclear power reactor. You don’t design them to survive in all but the most extreme circumstances. You just design them to survive.”

(Darrell Duffie, a professor at the Stanford University Graduate School of Business)

Chart of the Day

Beyond Meat’s ($BYND) IPO was ridiculous. (chart via @yahoofinance)