The Market Structure Map
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...
July 3, 2024
There’s a moat between haves and have-nots in the stock market. The S&P 500 Equal Weight Index that treats the 500 components the same is up 0.5% through yesterday versus Dec 31, 2021. Cumulative inflation over that time is 13%. So the equality index is...
June 19, 2024
One of our customers at EDGE calculated that 82% of Demand in the S&P 500 is from three stocks (NVDA – now the largest – AAPL, MSFT). Ramifications? Reminds me of what the former head of investor relations at United Health Group, John Penshorn, said...
June 12, 2024
High-frequency traders are data-dependent. The Federal Reserve ought not be. I’ll explain. The U.S. central bank today concludes its open-market (FOMC) meeting. Jay Powell speaks. Before I go further: join the ModernIR webinar today on Leveraging your Treasury for Sellside Coverage. It’s genius. Not because...