Market Structure Insights
November 3, 2009
Mother Nature and Denver last week were like a samba episode of Dancing with the Stars, twirling furiously. In fact, snow torpedoed my trip to Boston, but only after an hour floundering through a foot of slush to the airport at an average speed of...
October 27, 2009
We’ll spend the bulk of today’s note explaining why small-cap stocks increasingly find their shareholdings dominated by a few large quantitative institutions. First this on equity markets: Last week we noticed a surge in “volatility trading.” We’ve written before about these tactics that capitalize on...
October 20, 2009
A word on the markets: options expired last week, while swaps and counterparty agreements pegged to volatility measures lapse tomorrow. Speculation and risk management trading are high as a result. If you expect your stock to behave as though everybody buying and selling it acts...
October 5, 2009
The New York Yankees led the American league this year with a team batting average of 29% (.290). Is it just curious coincidence that IROs and CFOs polled for the October issue of CFO magazine gave their stock surveillance firms a 29% batting average too?...