Quote of the Day

"The fund industry is a supertanker. Its turns are almost imperceptible. This sluggishness occurs not only because the industry is mature, such that existing assets dwarf the amount of annual sales, but also because old habits die hard."

(John Rekenthaler)

Chart of the Day

FedEx ($FDX) announced it will up capital spending to keep up with rising demand. (chart via @ycharts)