The Market Structure Map
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...
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...
January 29, 2025
DeepSeek would be a great name for a rock band. As would Rapeseed, an alternative offered by the helpful Whole Foods staff when I asked for canola oil. Canola so far as I know is unrelated to Nvidia, which is in 756 Exchange Traded Funds....
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...
January 15, 2025
January 8, 2025
We were in Nashville and Keith Urban wished us a happy new year. If you like country music, that’s a good start to 2025. More on that in a moment. It was December 18 when I last wrote. I talked then about how the market...