Am I completely off base in my hunch that investors are starting to live off their brokerage capital? Reuters thinks so.

“The average age of financial advisors is a shade under 49 years, and about 14% of its workforce are north of 60 years. More important, less than 25% of all advisors are ages 40 and younger. And one final number to consider: Just 5.6% of advisors are ages 30 or younger.”

Restaurants have held up fairly well in the aggregate, until now.

What the remnant is thinking as the herd wanders past.

Links for morning reading.

No, it has nothing to do with risk aversion and everything to do with the bare necessities. People aren’t working, so how can they possibly invest?

There is a societal civil war coming. It will not be pleasant but will lead to structural improvement for the next phase of America.

Not-to-miss links from the weekend.

A great look at how the top rappers are making it these days.

Mike Bellafiore’s book is a must-read and about more than just trading.