Market Structure Insights
December 23, 2015
Editorial Note: Happy Holidays! We’re back from travels but will share our findings in the first Market Structure Map of the new year. Ahead of Christmas, we’re re-running the most-read MSM of 2015. Market structure should rank among your top priorities, IR professionals. You can...
December 16, 2015
EDITORIAL NOTE: We’re getting far away from today’s Federal Reserve decision colliding with options expirations (VIX today, with more expirations tomorrow and Friday), escaping to the elbow of the Caribbean, the divide between windward and leeward on a catamaran around St Maarten. Happy Holidays! As...
December 9, 2015
Looking around at the market, we decided the only thing to do is go to St. Maarten. Safely at sea, we’ll wait out options-expirations and the Fed meeting next week and return Dec 21 to tell you what we saw from afar. What’s up close...
December 2, 2015
I looked back at what we wrote Dec 2, 2008. It was two weeks before Madoff (pronounced “made off” we’d observed bemusedly) became synonymous with fraud. Markets were approaching ramming speed into the Mar 2009 financial-crisis nadir. In that environment on this date then, we...
November 25, 2015
A war of words is unfolding in our profession. In case you’ve not followed, it’s about the market for the product you manage as investor-relations officers. Many of you have read Flash Boys, Michael Lewis’s (The Big Short is soon coming to movie screens) engaging...
November 18, 2015
If the stock market reflects all information currently known, why are buyout deals nearly always done at a premium to market price? “Because, Quast, deals involve proprietary pricing models that account for synergies.” Sure. But I want you to think about prices. The Wall Street...