Market Structure Insights
January 7, 2015
Happy New Year! We trust you enjoyed last week’s respite from the Market Structure Map. Now, back to reality! CNBC is leaving Nielsen for somebody who’ll track viewer data better. Nielsen says CNBC is off 13% from 2013. CNBC says Nielsen misses people viewing in...
December 24, 2014
As Christmas Eve arrives in the US, market-structure circles are abuzz on tidings from Intercontinental Exchange (ICE), parent of the NYSE, about bold market reform. Is it the birth of opportunity or a winter fable? In case you missed it, word broke last week that ICE...
December 17, 2014
Volatility derivatives expire today as the Federal Reserve gives monetary guidance. How would you like to be in those shoes? Oh but if you’ve chosen investor-relations as your profession, you’re in them. Management wants to know why holders are selling when oil – or pick your...
December 10, 2014
Suppose you were an elevator operator. In 2013, the conservative Weekly Standard reported that the most senior member of the Senatorial coterie of button-pushers on the Hill pocketed about $210,000 in compensation, on par with investor-relations professionals. The elevators have been automated in the Capitol...
December 3, 2014
Euclid could have been a hedge-fund manager. The Greek mathematician and father of differential geometry defined our understanding of three-dimensional shapes in roughly 280 BC. Thanks to Euclid we know what a cube is, and that right angles are all equal. In 1982, mathematician James...
November 26, 2014
Happy Thanksgiving from Austin, TX! Many of you are out too, seeing family for the holiday. Looking back at 2014, this Market Structure Map from Aug 27 was one of the year’s most widely read. Curiously, some of the same economic data points including the FHFA house-price...