The Market Structure Map
October 22, 2014
It’s not what you think. Heard that phrase before? Last Wednesday, Oct 15, apparently everybody trading equities believed the world was dissolving in an apocalyptic stew of Ebola, European recession, unused petroleum, Chinese debt and Mideast terror. The DJIA at one point dropped 460 points....
October 15, 2014
There’s no one-word description. The Ides of October arrives serene and tranquil in Denver, the Rockies dusted with recent snow, the sky intensely blue, deciduous trees on the boulevards colored like Jackson Pollock movements on a Wayne Thiebaud landscape. By contrast, the equity market recalls...
October 8, 2014
I remember the day my elementary school friend pierced his ear. By accident. We were nine-year-olds fishing eastern Oregon’s Burnt River on my dad’s cattle ranch. Young John gave his line a mighty cast. We awaited the expected kerplunk in the water. Nothing. Assuming he’d...
October 1, 2014
Autumn the past two weeks splashed brilliantly over the Colorado Front Range. It puts everything into perspective. I recall as a kid my mother saying in retort to my reason for some dunderheaded act, “You did it because ‘everybody else was doing it?’” Investor-relations professionals...
September 24, 2014
Humans are often entertained by illustrations of absurdity through reality. For instance, Treasury Secretary Jack Lew months ago said he’d like to address tax inversions but lacked authority. Yesterday, Treasury imposed rules to limit inversions. My reading of Section Two of the U.S. Constitution reveals...
September 17, 2014
We figured if The President goes there it must be nice. Reality often dashes great expectations but not so with Martha’s Vineyard where we marked our wedding anniversary. From Aquinnah’s white cliffs to windy Katama Beach, through Oak Bluffs (on bikes) to the shingled elegance...