In the Basket
Should a stock like COKE rise 20% in a day? Executives love it, sure. But it’s aberrant behavior at loggerheads with what the dominant money buys today. Here’s what I mean. COKE is a member of MDY, the Blackrock (iShares)…
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Earnings and Alpha
Corporate earnings are at loggerheads with how the market works. Earnings foster volatility and all the money wants the benchmark.
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Signs and Wonders
You wonder what’s going to happen next. I mean, look around. The South Carolina women ran ruthlessly through everyone, capping a 38-0 season with the NCAA basketball championship. Right before a total eclipse not of the heart but of the…
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Sherlock Holmes Market
Is impending volatility predictable? Sherlock Holmes would not tell Watson it’s elementary, that’s for sure. But there is a tale behind the tape. Permit me to tell it. I wrote this last week: Some volatility you can’t control. The market…
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What Money Wants
Vanguard founder Jack Bogle said to own the averages. Index funds. That seed germinated into a tree that filled the investment world. Look at Blackrock. More on Larry Fink in a moment. Most of the top 25 owners of US…
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Everything is Awesome?
What the…? Everything was awesome. Monday. Then yesterday, stocks toppled like a thawed corpse in Nederland (inside joke, there). No obvious reason. Some said it was Jay Powell testifying today and tomorrow. Others claimed it was Big Tech coming apart at…
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Magnificence
On Nov 15, 2021, NVDA closed at $345.30 on a hundred million shares of volume. Without context, that information is interesting but unhelpful. I’d note it was a monthly options-expirations date (those are bigger than ever for hedging, and routinely…
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Improbable
If I said the name “Sherlock Holmes” to you, what’s your snap response? Probably, “Elementary, my dear Watson.” I have long favored a line by Sir Arthur Conan Doyle, written for his fictitious detective Sherlock Holmes. Eliminate the impossible and what…
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