Market Structure Insights
January 12, 2010
Thought for the day: “Chaotic action is preferable to orderly inaction.” – Will Rogers Speaking of chaotic action, let’s review trading basics. We tend to think trading is buying and selling stock. To quote John Kerry, would that it were! Most trading today isn’t done...
January 5, 2010
Happy New Year! I grew up in the Snake River Breaks northwest of Boise. In tiny Huntington, where I quarterbacked the eight-man high-school football team, a guy ahead of me several years achieved local fame at middle linebacker for the Boise State Broncos. BSU was...
December 29, 2009
We’re back after a refreshing one-week break! Here in Denver we packed the house with visitors, the kitchen with delicacies, the slopes with our skis, and our bellies with generally excessive consumption. Good thing reality returns with a bite soon! Remember that Redford flick from...
December 15, 2009
Tis the season for expirations, the keyhole onto institutional risk-management. The shuffle started Friday Dec 11, when risk-management trading dominated. You won’t see it in price or volume, or puts or calls, but in the nature of execution. If you wondered why your trading seemed...
December 8, 2009
Denver is an icebox, so we went east to New York to warm up. Lovely here, the tree glittering at Rockefeller Center and the snowflakes magically materializing to music on the Saks & Co. façade. Festive! Carmen Barone and the Barclays team graciously hosted me...
December 1, 2009
I’m moderating the NIRI Virtual Chapter meeting on modern equity markets tomorrow 12/1 at noon ET. See nirivirtual.org for details. As I move the midsection flab from a grand Thanksgiving holiday aside to get at the keyboard (a little humor there), the US equity markets...