The Market Structure Map
October 9, 2024
Forbes Magazine wrote in Feb 2009 that Warren Buffett is said to have observed, “You pay a very high price in the stock market for a cheery consensus.” On the other hand – you know about the one-handed economist – Baron Rothschild is credited with...
September 11, 2024
On May 22, fees charged by the SEC on trading rose 248%. It’s not widely understood that the fees from initial public offerings, follow-on and secondary offerings, proxy solicitations and corporate buybacks (under sections 6b, 13e and 14g of the Securities Acts) were directed away...
August 28, 2024
They’ve been running the Palio in Siena officially since 1482 but the history goes further back. We were walking through the Lupa Contrada on the day of the race and I snapped a photo of a trainer walking the Wolf horse. Well, lupa means wolf...
August 7, 2024
Copernicus could help us pick stocks. In a sense, anyway. I’ll explain. Now, I don’t know what’s going to happen next. We did, however, write this July 24: Recognize this: It’s a mathematical impossibility for any meaningful rotation to occur from large caps to...
July 24, 2024
Vice President Calvin Coolidge assumed the Presidency of the United States on the death of President Harding and completed that term and was then elected President and declined to run for a second term. That decision to run once isn’t the only reason Cool Cal...
July 10, 2024
It’s worth stopping whatever you’re doing and observing what’s occurring on the planet. In South Africa, the African National Congress is out for the first time. Prime Minister Modi took a stunning Indian electoral shellacking. A wild-haired libertarian is disrupting Argentina. German incumbents wilted in...