Market Structure Insights

November 2, 2016

The Nasdaq will now run Goldman’s dark pool. Walk up to any random stranger and blurt that phrase and see what happens. Nasdaq?  Goldman? Dark Pool? You’re crazy? Bloomberg reported on Halloween that banker Goldman Sachs would turn over management of its so-called dark pool...

October 26, 2016

The market appears to have become the Walking Dead. I don’t mean a collection of bodies reduced to bloody pulp by a barbed-wire encased baseball bat. That would be the Presidential election. (Aside: you who watched the new Dead episode know with nauseating certainty what...

October 19, 2016

In the five trading days ended Oct 17, 49.1% of average daily stock volume was short. “Wait, what?” you say.  “Half the stock market is short?” Yes, that’s right.  Short volume last topped 49% marketwide in mid-April. The market glided gently downward from there to...

October 12, 2016

Anybody ever said to you, “Do the math?” Yesterday on CNBC’s Squawk Box legendary hedge-fund manager and founder of Omega Advisors Leon Cooperman said the world is crazy.  That’s anthropomorphizing the planet but I agree. He was referring to the math behind negative interest rates,...

October 5, 2016

In Roman mythology, Janus is the two-faced god of beginnings and endings.  In Denver, Janus is the god of investing. In the news, Janus is merging with UK money manager Henderson. The move reflects the two faces of the stock market, beginnings and endings and...

September 28, 2016

Spain rocks. We’re back from pedaling the Pyrenees and cruising the rollers of the Costa Brava on bikes, where the people, the food, the wine, the scenes, the art, the land and the sea were embracing and enriching. To wit, we traversed 200 miles, thousands...

Want to know your Passive characteristics? How to rethink your earnings reporting cycle?