Market Structure Insights
August 30, 2011
While Irene splashed Wall Street, we Coloradans reveled in the ridden glory of the USA Pro Cycling Challenge. The 500-mile route hosted 130 of the world’s top cyclists including Tour de France winner Cadel Evans and both runners-up, Luxembourgers Andy and Frank Schleck. We were...
August 24, 2011
Show of hands, please. How many of you saw Levi Leipheimer’s monster run in the big ring up the finishing hill at Crested Butte yesterday to take Stage 1 of the Pro Cycling Tour of Colorado? We’re bound for Vail later to see a couple...
August 16, 2011
Whew, we’re back to good. That seems the attitude about market gyrations in August. Prices recovered. Heck, we should’ve skipped the mess and stayed on the Cape. Across our client base, we saw few rational-price changes between Aug 1 and Aug 12. Rational investors were...
August 9, 2011
Headline at 2:34 p.m. Eastern Time today: “Fed Pledges Low Rates Through 2013.” How many recognize this as a currency-devaluation? Markets jumped 4% here in the U.S. as the DXY, the dollar index, dropped. Last Sunday, the European Central Bank pledged to monetize debts of...
August 2, 2011
Why are markets dropping like the thermometer at 8pm on Pike’s Peak? Debt chaos, sour economic data, sure. We’re not market prognosticators, we track behavioral data. Under the skin of the news at market level, institutions shifted to managing portfolio risk about July 21. These...
July 26, 2011
We were in San Francisco Sunday escaping the heat parching most of the country. Cool heads are better than hot heads, we thought. It was nice to need a sweater. Speaking of needing things, there’s a flaw in consensus estimates. Consensus by definition means it’s...