Which Way

Which Way

http://modernir.com/wp-content/uploads/2021/04/MSM041421.mp3 In Lake Jackson, TX, you can take This Way or That Way. No, really.  I snapped that shot Friday at the corner of This Way and That Way in LJ.  And yes, that rhymes.  And yes, it’s a metaphor for the stock...
Fama Market

Fama Market

http://modernir.com/wp-content/uploads/2021/04/MSM040721.mp3 Eugene Fama, Booth School, Univ of Chicago   Do you know traders could have made 580% in the S&P 500 the past 200 days? Public companies, your stock need not rise.  I’ll explain. The S&P 500 is...
Suez on Wall

Suez on Wall

The stuff Archegos used expires today. Sound like Greek? Courtesy SEC.gov Let me explain. A hedge fund blew up. Its counterparties are taking huge hits. There are ramifications. What happens?  Maybe nothing. Maybe everything. First, let’s understand “counterparty.”  A...
Cash in Lieu

Cash in Lieu

Public companies and investors, is the Federal Reserve using cash to hurt you? What?  Quast, don’t you mean they’re inflating stocks? To a point, yes. And then history kicks in. There’s no such thing as “multiple expansion,” the explanation offered for why stocks with...
March 17: The machination of machines!

March 17: The machination of machines!

Couldn’t blame you if you missed it.   For many, these past few weeks and the ones coming up are the busiest on the IR calendar. Board presentations, ASMs, virtual analyst conferences and investor days. You just finish year-end events and Q1 reporting is rushing...
Reg Efdy and Thee

Reg Efdy and Thee

http://modernir.com/wp-content/uploads/2021/03/MSM031021.mp3 The Securities and Exchange Commission is in danger of becoming the Dept of Silly Walks. Let me explain why I’m calling the SEC Monty Python. And it matters to you, public companies and investors. Speaking...