Market Structure Insights
March 22, 2023
Do you feel like singing a song by The Who? I’ll tip my hat to the new ConstitutionTake a bow for the new revolutionSmile and grin at the change all aroundPick up my guitar and playJust like yesterdayThen I’ll get on my knees and prayWe...
March 15, 2023
Is the management team of Silicon Valley Bank a confederacy of dunces? I don’t want a cease-and-desist order from the estate of John Kennedy Toole, so let’s move along. But it’s the wrong question. By the way, across the 500+ stocks comprising the Financials sector,...
March 8, 2023
My grandparents never had a mortgage or car-payment. It’s a lesson on the stock market. Really, Quast? You’re dragging your grandparents into market structure? Well, I’m on a NIRI Virtual Chapter panel today at noon ET about the SEC’s four gargantuan regulatory disgorgements, so yeah. ...
March 1, 2023
“Our strategy,” said the investor-relations officer to the chief financial officer, “is to target the bottom part of the graph here.” See image, from the Investment Company Institute’s 2022 Factbook. “Hm,” said the CFO. “Looks like we need a new plan.” Yes, our profession needs...
February 22, 2023
What if everyone is wrong? That’s a lyric from Sheryl Crow’s “Letter to God” on the 2005 Wildflower album. The context for Ms. Crow was the great existential question, “What happens when we die?” I’m writing about market structure and, by extension, economics. God, market...
February 15, 2023
What odds are tolerable to you? If you’re betting – I don’t but follow me – you might take a longshot. Low odds, big returns. But in investor-relations we’re playing with house money. It belongs to shareholders. The odds that we can grow shareholder-value by...