The Market Structure Map
March 17, 2021
Couldn’t blame you if you missed it. For many, these past few weeks and the ones coming up are the busiest on the IR calendar. Board presentations, ASMs, virtual analyst conferences and investor days. You just finish year-end events and Q1 reporting is rushing...
March 10, 2021
The Securities and Exchange Commission is in danger of becoming the Dept of Silly Walks. Let me explain why I’m calling the SEC Monty Python. And it matters to you, public companies and investors. Speaking of disclosure: I’m on the NIRI National Ethics Council, and...
March 3, 2021
If your house was missing a wall, would you worry whether the front door was locked? Well, the stock market is missing a wall. And yes, the image here is not a missing wall but the walls you can ski at Steamboat. To our story,...
February 24, 2021
I knew it would come to this. Rep. Maxine Waters would be on CNBC talking about market structure. Last week during options expirations, Congress paraded supposed culprits in the Great Gamestop Mania before itself. And it wasn’t about financial misdeeds, somebody leading shareholders astray. No,...
February 17, 2021
Good offense beats good defense. These five words are the heartbeat of the Saban Dynasty in football at Alabama – and the reason for the Gamestop trade in the stock market. Promise, this piece isn’t about sports. It’s about how retail traders killed institutions. It...
February 10, 2021
Editorial Note: A giant thank you to Client Services Director Perry Grueber for penning last week’s Map. He’ll be back regularly, by popular demand. This week you’re stuck again with me. -TQ Something is worth what another is willing to pay for it. That’s the...