Market Structure Insights
July 13, 2016
The biggest risk to an arbitrager is a runaway market. Let me frame that statement with backstory. I consider it our mission to help you understand market behavior. The biggest currently is arbitrage – taking advantage of price-differences. Insert that phrase wherever you see the...
July 6, 2016
If money leaves, how is it stocks rise? After all, most suppose the market is premised on buying leading to higher prices and selling producing lower ones. And humanity has also held through the ages that a thing seeming too good to be true probably...
June 29, 2016
A line in the 1973 song Lord Mr. Ford goes, “All the cars placed end to end would reach to the moon and back again, and there’d probably be some fool pull out to pass.” Such is the delicate balance of global finance and economics...
June 22, 2016
We humans don’t like change. We become accustomed to uncomfortable shoes, kinks in the neck each morning, the monotony of sameness. Were we recorded we’d likely be surprised to hear ourselves making excuses for why what we don’t like must continue. The USA’s Declaration of...
June 15, 2016
How do you know macroeconomists have a sense of humor? They use decimal points. While you ponder, it’s that time again when the Federal Reserve meets to wring its figurative hands over decimal points, VIX expirations hit as volatility explodes anew, and Brits consider telling...
June 8, 2016
“We try not to confuse busy with productive.” Thus spake the head of investor-relations for an Israeli tech company years ago, and as we wrap the 2016 NIRI National Conference here in June-gloomy but ever awesome San Diego, I recall it anew. IR for those...