Market Structure Insights

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November 16, 2022

I don’t own cryptocurrencies or NFTs or other digital assets. Let me just offer that first. But anybody, in any market, including the US stock market, should understand the risk of manufactured traffic. I’ll explain. You all know about the collapse at FTX, wunderkind Sam...

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November 9, 2022

The only sport bloodier than the MMA Octagon is politics.  And it’s more entertaining! I don’t know what happened election night yet, as I’m writing from Charleston, SC at roughly 3pm ET Tuesday.  And I don’t know where stocks will finish ahead of the rising...

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November 2, 2022

Inflation is our fault.  For context, the Federal Reserve today will boost rates. The message will be clear: We consumers need to stop consuming, because we’re driving up prices. We used to understand back when Milton Friedman was credible that inflation is “always and everywhere...

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October 26, 2022

Geese are flying over Denver now, headed south.  Have you wondered if they poo up there?  Well, wonder no more.  Karen and I were walking in Denver’s Washington Park to the distant honk of traveling geese.  I felt something carom off my ear and shoulder....

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October 19, 2022

ModernIR has seen a surge of interest from companies perplexed by the stock market. They see that stocks don’t move with fundamentals, don’t move as expected. They move with each other. An October 12 Wall Street Journal article described “lock-step” moves in stocks ranging from...

Rome Colosseum Oct 2022
October 12, 2022

We’re just back from Rome, where the empire is no more but its imprint enthralls.  And yes, that’s like the stock market.  We’ll get to it. Do the Scavi tour under St Peter’s Basilica.  It’s breathtaking and not just because it’s underground.  It’s an archaeological...

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