Market Structure Insights
March 19, 2025
I’ll give you a high statistical probability. The stock market this week won’t reflect “fundamentals.” Quast, you’re obsessed with your own view that the market is quantitative. No, it’s what we call “context.” The cadence and calendar of the market: Yet whatever the stock market...
March 12, 2025
In Clint Eastwood’s 1992 movie Unforgiven, the scrolling script claims his character William Munny is of “notoriously vicious and intemperate disposition.” Rather like the stock market. A theme of the movie is: What you were may revisit you. Same in the stock market. And the...
March 5, 2025
Tariffs don’t just – boom! Rock the market. There must be a condition precedent. We’ve seen it before with the Federal Reserve. The Fed says, “We’re hiking rates.” Stocks crater. But behind the scenes, money had already moved. It happened in late 2021. I made...
February 26, 2025
It’s been a long time since the Flash Crash. So long in fact that heads of investor relations and chief investment officers of funds have come and gone in between. It was 15 years ago. The Flash Crash – an excellent name for a rock...
February 19, 2025
Some stocks are killing it. A bunch aren’t. Jon Sindreu at the Wall Street Journal called it an “Investing Riddle” (subscription required) that stocks in the market are in turmoil but the stock market isn’t. Yesterday, the S&P 500 closed at a new record, getting...
February 12, 2025
Why do sellsiders cover beta? Quast, you’re like a Kendrick Lamar rap: inscrutable. Let me speak English. NVDA, the most widely held stock and a component of the Index Trifecta – Dow Jones Industrials, S&P 500, Nasdaq 100 – is covered by 63 sellside research...