Market Structure Insights
August 28, 2013
“All this is not a product of nature.” No I’m not referring to the display, as it were, by Miley Cyrus at the Video Music Awards. If the shortest distance between two points is a straight line, what do you call a stock market with...
August 21, 2013
“We’ve got 25 analysts. What new thing can we say to change investors’ minds?” So lamented the IRO of a large household name this week. If everybody knows the same thing everywhere, how can you distinguish yourself? Tone of voice? Outfit? Teeth-whitening? We live in...
August 14, 2013
“What do you see out there?” Out here in Crested Butte, CO, where the overnight temperature was 35 degrees, we see vast beauty, perhaps unparalleled on the planet. As for the other “out there,” it’s the No. 1 question we’ve gotten the past two weeks,...
August 7, 2013
In France we saw Auguste Rodin’s famous sculpture, The Thinker. You know the one? A chiseled fellow (literally and figuratively) pondering in the nude. It’s good to sit down and think (no need to disrobe however). Why are you here? I mean, on an exchange....
July 31, 2013
Where have I been? Somehow, I missed the fun happening in SEC filings for large banks like Morgan Stanley, Goldman Sachs, JP Morgan, Credit Suisse and Deutsche Bank. If you already know what BARES are – Buffered Accelerated Return Equity Securities, of course – goody...
July 24, 2013
Have you seen those Pure Michigan ads? Compelling. Summer in Colorado could be a brand too, as these views of Hanging Lake near Glenwood Springs and Vail at morning last week attest. We seize every chance to savor the high country. Speaking of chance, high-frequency...