Market Structure Insights
October 7, 2020
You’re wondering what the heck “vahlcue” is. It was up almost 4% in the last hour yesterday as stocks tipped off the diving board. Meanwhile, cue fall. The photo at right reminds us that today is a consequence of yesterday. Autumn follows summer. In the...
September 30, 2020
You all remember the Fat Finger? It’s a gaffe, trading-style. In one 2014 instance, if the record can be believed, somebody in Japan accidentally tried to buy $700 billion of stocks including more than half the total outstanding shares of Toyota. The trades occurred outside...
September 23, 2020
What can you control? It’s a question largely abandoned in the modern era under the assumption humans can control everything. Arrogance often precedes experience-induced humility. But we’re talking specifically about the stock market. Public companies. Share-performance. Investor relations. What’s within your sphere of influence? There’s...
September 16, 2020
There’s a beer in this for you. A glass of rosé from Provence if you prefer. What’s the most liquid stock in the US market? I’m writing this after the virtual happy hour for the NIRI Big I Conference (it’s a strong event, and you...
September 9, 2020
Softbank bet big on call-options and Technology stocks are sinking. So goes the latest big story. Business-reporting wants a whale, a giant trade that went awry. A cause for why Tech stocks just corrected (off 10%). In reality the market today rarely works that way. ...
September 2, 2020
In Michael Lewis’s The Big Short, a collection of eccentrics finds a flaw in real estate securities and shorts them. The movie is great, the book even better. Somebody will write a book about the 2020 stock market (anyone?) flaw. The flaw? Depends who you...