Quote of the Day

"Human inertia is a more powerful force than gravity, and traditional cap-weighted indices and index funds are entrenched as the standard. There’s a reason why equal-weighting — the New Coke of index funds — hasn’t taken off either."

(Robin Wigglesworth)

Chart of the Day

America’s biggest banks, except for JP Morgan Chase ($JPM) trade around book value. (chart via @ycharts)