Market Structure Insights
July 14, 2021
Happy Bastille Day! Also, Goldman Sachs made $15 per share, 50% over expectations. The stock declined. JP Morgan earned $12 billion on revenue of $31 billion, doubling views. Shares fell. Why are banks making 36% margins when you can’t earn a dime of interest? I...
July 7, 2021
What should you know about your stock, public companies? Well, what do you know about your business that you can rattle off to some inquiring investor while checking the soccer schedule for your twelve-year-old, replying to an email from the CFO, and listening to an...
June 30, 2021
The Russell Reconstitution is so big everybody talks about it. And yet it’s not. The Nasdaq touted its role facilitating this year’s Russell reset, saying, “A record 2.37 billion shares representing $80,898,531,612 were executed in the Closing Cross in 1.97 seconds across Nasdaq-listed securities.” Impressive,...
June 23, 2021
The world relies on one semiconductor company. How did an economic ecosystem let itself get boxed in like that? About the same way it happened in the stock market. There’s a lesson for public companies and investors. Yang Jie and colleagues at The Wall Street...
June 16, 2021
Is Jay Powell the new Investor Relations Officer for all public companies? Before we answer, the tranquil image at right free of the Federal Reserve and all the travails of modern economics and politics (and investor relations) is Catamount Lake near Steamboat Springs. I love...
June 9, 2021
Do stores sell coats in the summer? No, they sell bathing suits. They match product to consumer. Do you, investor-relations professionals? I’ll tell you what I mean. First, here’s a tease: I recorded a panel yesterday with the Nasdaq’s Chris Anselmo and Kissell Research Group’s...