Market Structure Insights

SPGlobal 2024 Capital Flows
February 5, 2025

“Really? That’s all the time you spent?” I said,”Yessir. It doesn’t take long to pull weeds.” I think I was twelve.  The mailman had suggested to Walker Fry, the richest guy in Huntington, Oregon, population 530, where I grew up that the Quast kid would...

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January 22, 2025

A headline at Bloomberg from Jan 13, 2025, reads: I was a Wall Street Analyst. They are Irrelevant. The article by opinion columnist Shuli Ren (subscription required), a former sellsider, describes factors reducing the value of sellside research. It’s one of three in a span...

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January 15, 2025
Public companies with traded shares need to stop selling horses and wagons to a stock market buying cars....
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December 11, 2024

Microsoft is in 766 Exchange Traded Funds including a Utilities ETF. It’s in about a third of the nearly 1,800 domestic equity ETFs comprising a US-traded universe of 3,500 ETFs, adding in bond, commodity and international funds. Says the Investment Company Institute. Is that a...

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November 20, 2024

Nvidia (NVDA) reports results today after the market closes, like thousands of public companies in the last couple weeks trying to generate alpha. The difference between Nvidia and most of the rest – about 99% – is Nvidia right now generates alpha, a superior return...

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November 6, 2024

We’re back! Karen and I left for Spain last month, where outside Girona I rode bikes with good friend Brent and our pro-cyclist guide, Arno. Three hundred miles, over 23,000 feet including the famed Category 1 (over 3,000 feet) Rocacorba, six days in the saddle....

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