Market Structure Insights

dreamstime m 96434613
April 23, 2025

It was never about Jay Powell. It was options. As the market reeled Monday, the Talking Heads declaimed that Donald Trump was responsible: He was going to fire Jay Powell. We said before the market faceplanted and recovered that it would likely fall Monday with...

dreamstime m 41877325
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...

dreamstime m 17667811
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...

PXL 20240512 145600530.PORTRAIT
December 18, 2024

Willie Nelson plays Johnny Dean in the 1997 Barry Levinson movie Wag the Dog, who is hired to write a patriotic song as part of a fake war designed to divert public attention. I don’t recall it but Microsoft Copilot tells me the character struggles...

dreamstime m 22301132
November 13, 2024
Since the re-election of Donald Trump, I’ve seen a half-dozen animated discussions on TV about ending the Federal Reserve, the distant stepchild of Hamilton’s bank....
dreamstime m 183242520
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...

Want to know your Passive characteristics? How to rethink your earnings reporting cycle?