The Market Structure Map
May 28, 2025
Who is John Galt? The libertarians know. But who is John Law? I would’ve gotten along with him as he liked probabilities. At one point by his own estimation – reducing its veracity – he was the richest man who ever lived. A Scotsman and...
May 21, 2025
I’ll tell you what fascinates me about stocks. Before that, Barry Diller’s memoir is out. I’ve long thought him an interesting guy. It’s no doubt worth reading. He says he spends months on his 300-foot schooner, Eos. We saw his big boat (see photo) sailing...
April 30, 2025
Can stocks fall if nobody sells? For a sneak peek at my thesis, here’s my segment with Brian Sullivan and Kelly Evans on CNBC Power Lunch Monday Apr 28. You may be thinking: Is it a trick question? There’s a buyer for every seller. I...
April 9, 2025
As one of our team said, “The Quast Vacation Put strikes again.” Wearing puka shells and vacation pants, we split March 25 for the trade winds of St Vincent and the Grenadines to sail the following seas. And the stock market crumbled. You can see...
February 19, 2025
Some stocks are killing it. A bunch aren’t. Jon Sindreu at the Wall Street Journal called it an “Investing Riddle” (subscription required) that stocks in the market are in turmoil but the stock market isn’t. Yesterday, the S&P 500 closed at a new record, getting...
February 12, 2025
Why do sellsiders cover beta? Quast, you’re like a Kendrick Lamar rap: inscrutable. Let me speak English. NVDA, the most widely held stock and a component of the Index Trifecta – Dow Jones Industrials, S&P 500, Nasdaq 100 – is covered by 63 sellside research...