The Market Structure Map
December 10, 2025
I don’t know if it’s better to be the Wildebeest or the Hyena. But there’s safety in the herd. That’s one conclusion from my NIRI Senior Roundtable panel last Thursday with Simplify Asset Management chief strategist Mike Green (who is now also the economics rockstar...
December 3, 2025
Where is the money coming from? It’s the question Karen and I had down in Cabo ahead of Thanksgiving as we observed the hillsides overlooking the Sea of Cortez now festooned with elegant homes. It wasn’t that way the last time I visited 25 years...
November 26, 2025
We bid November 2025 goodbye and we say hello to a tryptophan high (yes, that rhymes on purpose). You EDGE subscribers, our next live Discussion is Thu Dec 4. Brian Wilson will lead it. I’ll be in San Antonio for NIRI Senior Roundtable and a...
November 19, 2025
Editorial Note: Que onda, gente! Karen and I are in Cabo marking her birthday where sea and sky meet (and as Lukas Nelson sings, “all four winds say goodbye”). This is what I wrote Oct 15 after the market rocked Oct 10 for the first...
November 12, 2025
Why do Analyst Days foster volatility? For those unacquainted with Wall Street jargon, an “Analyst Day” is an event hosted by a public company to engage research analysts from the sellside, the firms selling stocks, and the buyside, shops buying stocks. AMD held one yesterday....
November 5, 2025
“The business continues to hit on all cylinders,” said Uber’s CEO yesterday. The stock declined. Palantir beat expectations, raised guidance, what we call in the industry a “beat and raise.” The stock fell about 8%. Demand, our 10-point sentiment algorithm metering buying and selling, peaked...