Market Structure Insights

June 24, 2015

What moves you? I gave it thought during ModernIR’s tenth NIRI National (I think 18 of them total for me now) at the Hyatt Regency in Chicago, here looking north across the river from the 33rd floor. It’s easy to fall into habits and skirt...

June 17, 2015

As the US investor-relations profession’s annual confabulation concludes in the Windy City, we wonder how the week will end. The problem is risk. Or rather, the cost of transferring it to somebody else. Today the Federal Reserve’s Open Market Committee Meeting adjourns with Janet Yellen...

June 10, 2015

The equity market is like Mark Twain said. The trouble ain’t what people don’t know, it’s what they know that ain’t so. Thus did Sam Clemens articulate the difference between the price of ignorance and the consequence of arrogance. I thought about this distinction a...

June 3, 2015

The midday equity-market silence is deafening. Writing for the Wall Street Journal last week, Dan Strumpf roiled capital-markets constituents describing how stock-trading is now focused around the opening bell and the last half-hour, with volume dribbling otherwise.  NYSE strategists are now contemplating a midday auction....

May 27, 2015

Memorial Day is a time for reflection. We marked it by viewing American Sniper, introspective cinema on prolonged war.  There comes a point along that continuum where people begin to feel helpless, caught by something they can neither fix nor change. That of course got...

May 20, 2015

Investor-relations is an itinerant profession. We’re on the road a lot. If you’ve had one of those three-hour flights, say from Denver to Atlanta, in a cramped regional jet (we’ve vowed to avoid them but United interdicts our solemn ecclesiastical commitments), you may utter profanities....

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