Market Structure Insights

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October 16, 2024

Options expire and renew starting today and running through Tuesday, the last chance for big hedges and bets on the US presidential election.  We could root through Nostradamus’s quatrains for insight on what’ll happen. We could try something more certain, such as wildly guessing.  Or...

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October 9, 2024

Forbes Magazine wrote in Feb 2009 that Warren Buffett is said to have observed, “You pay a very high price in the stock market for a cheery consensus.”  On the other hand – you know about the one-handed economist – Baron Rothschild is credited with...

Autumn colors on Buffalo Pass, Steamboat Springs CO.
October 2, 2024

On Buffalo Pass, autumn blazes.  In fact, there are a lot of things ablaze, with another earnings season looming. Will you report results the same old way, public companies?  One thing blazing are Chinese stocks, which posted the best week and day since 2008. I’m...

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September 25, 2024

Tundra is spongy. So are stocks. Somebody facile with words is Peter Heller.  Karen and I met him at a book-signing in Steamboat Springs. Things to do abound everywhere but I think one is more aware of them in small towns. We love our little...

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September 18, 2024

Stocks are up. So are the number of trades and the amount of volume that’s short. But trade-size has plunged. The stock market is up 87% the past five years while trade-size is down 37% from 154 shares per trade on average in S&P 500...

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September 11, 2024

On May 22, fees charged by the SEC on trading rose 248%.  It’s not widely understood that the fees from initial public offerings, follow-on and secondary offerings, proxy solicitations and corporate buybacks (under sections 6b, 13e and 14g of the Securities Acts) were directed away...

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