What do you do in Steamboat Springs when autumn arrives at the Botanic Park? Why, have a Food & Wine Festival of course! Meanwhile the derivatives festival in equities continues, thanks to the SEC, which through Rule 6c-11 is now…
View pageIn 1975, there were no electronic exchanges in the United States. Now the average S&P 500 component trades electronically 17,000 times daily in 134-share increments totaling a mean of $500 million of stock. Yet public companies still have a 1975…
View pageI don’t think it should be overlooked that “Quants” and “Quasts” differ by only a letter. Scott Patterson’s 2010 book, The Quants, is a great read. You’ll be riveted by what was cascading beneath the market’s surface before the financial…
View page“It’s going to be an interesting year.” We wrote that phrase in the Jan 2, 2019 edition of the Market Structure Map. (By the way, we’re in Rhode Island this week visiting customers, and in Newport you’ll see the sea…
View pageAlbert Einstein reputedly quipped that compounding was the 8th wonder of the world. What would he think of negative interest rates? The 10-year German government bond yield is -0.61%. The Rule of 72, which nobody mentions now, says dividing 72…
View pageBula! That’s Fijian for “greetings!” You say it “boo-lah.” Fiji is among the friendliest places on the planet. Karen and I are just back from the South Pacific, as this compilation illustrates. Do you know it’s traditional in Fiji to…
View pageAny of you Denzel Washington fans? He starred in a 2010 movie loosely based on real events called Unstoppable, about a runaway freight train (I have Tom Petty’s “Runaway Train” going through my head). In a way, the market has…
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