The Market Structure Map
September 9, 2026
ChargePoint (CHPT) traded 44 million shares Sep 3, almost twice its ledger of 24 million, and rose from around $5 to over $9. Yes, in Dec 2020, it was trading above $900, with market cap over $15 billion versus today’s $250 million. How did its...
August 26, 2026
Twenty-five lighters on the dresser, yessir, and I gotsta get paid. That’s what NVDA investors are saying today. The ZZ Top (God rest Frank Beard) version of that song has Billy Gibbons at his gravelly best. I saw a documentary on the band, and Billy...
August 12, 2026
Would you take a coin flip as an outcome? I got to know a successful growth fund manager in the 1990s. Well. More than one! Louis Navellier was crushing it for technology investors using “modern portfolio theory” principles such as risk-adjusted return and how volatility...
July 15, 2026
Whatever you write, do it as though somebody will read it back to you in a court of law. I can’t recall who passed that gem along to me. I’ve never had to experience it, thus far. Maybe because I follow it. Anyway, with that...
June 17, 2026
If I had a rock band, I would be tempted to name it “Tracking Error.” There are so many good names for rock bands. The sheer magnitude of data casts uncertainty on what I’d call it. I used to keep a list. “Parking Lot Campers”...
June 10, 2026
I probably liked Jay Woods best. We’re back in the mountains after a junket to Chicago for the NIRI Annual Conference, where the joy is seeing our clients, colleagues and friends. Have been there some 25 times and it never gets old. And I thought...