The Market Structure Map
May 20, 2026
If 90% of your volume is between 930a-4p ET, why would you report outside market hours, public companies? For NIRI members, I’ll address this question and much more in 20 minutes between 305-325p CT in Chicago Monday June 8, at the NIRI Annual Conference. Join...
May 13, 2026
I observed Monday to EDGE Daily Market Desk readers that stocks like CSGP would not be in the S&P 500 basket. And now it’s been booted from the Nasdaq 100. The point for investors is that creators of ETF baskets – statistical samples – for...
April 15, 2026
Say you’re a public company in the S&P 500. How’s your stock doing? For every CIEN and SNDK, there are three components trailing the benchmark, says the math. On average, 72% of S&P 500 stocks the past three years lagged the index. Why? Let...
March 18, 2026
“How they square increasing liquidity with delaying information is insane.” So said a skeptic in a ycombinator forum about the SEC’s reputed proposal to end mandatory quarterly reporting, reducing required reports from four to two. There is no official SEC rule-filing yet. You’ll find it...
March 11, 2026
I solved a problem. In the book “The Humans,” by Matt Haig, a mathematician is trying to prove the Riemann Hypothesis suggesting deep foundational meaning in prime numbers. No, I didn’t solve that one. A different one. Before I get to that: Oil jumped Monday...
February 18, 2026
Follow the big stingray and you’ll never know what you might see. Speaking of which, I’m back from the sea! Belize, specifically. Here’s a collection of trip photos. I was snorkeling near our catamaran with Karen off South Water Caye and came over coral reef upon...