THE WISDOM OF SPAM….Via Alex Tabarrok, Spam Stock Trader decided to buy a virtual portfolio of every stock mentioned in a spam email received between May 5 and the end of June. Results here. Actually, he did better ? or, more accurately, less disastrously ? than I would have guessed.

Independent since 1969.

The Washington Monthly is nonprofit and reader-supported. Your tax-deductible gift pays for the reporting you just read.