Market Structure Insights
June 1, 2016
Yesterday China’s stock-futures market Flash-Crashed 10% and recovered in the same single minute. For those new to market structure, the term “Flash Crash” references a hyperbolic rout and recovery in US equities May 6, 2010 in which the Dow 30 erased a thousand points and...
May 25, 2016
If I could explain monetary policy using mainly actual English words, would you still rather slit your wrists than read it? Tough one, huh. As you consider it, people everywhere are wondering if the Federal Reserve will lift interest rates in June. You’ve no doubt...
May 18, 2016
Everybody adapts, including institutional investors like Janus. Rattle off a top-ten list of the best active stock pickers visited by teams of company execs and investor-relations pros trundling through the airports and cities of America, and Denver’s Janus likely makes the cut. Ah, but. In...
May 11, 2016
“Measure the performance of equity securities in the top 85% by market capitalization of equity securities listed on stock exchanges in the United States.” I made it a sentence here but I clipped that phrase from a Blackrock iShares “minimum volatility” Smart Beta Exchange Traded...
May 4, 2016
You’ve heard the phrase split-second decision? For high-speed traders that would be akin to the plod of a government bureaucracy or the slow creep of a geological era. Half a second (splitting it) is 500 milliseconds. One millisecond equals a thousand microseconds. One microsecond is...
April 27, 2016
My friend’s dad joked that kids are the most destructive force in the universe. For stocks, the most powerful (and sometimes destructive) force is the movement of the dollar. The Federal Reserve and the Bank of Japan both meet today so it could soar or...