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One could not have envisioned 2020. Many are now recognizing the massive amount of monies that are concentrated in a few names, perhaps the result that every trade other than indexing has ...

The technology heavyweights continued their relentless advance, shattering any remaining illusions about the significance of security research. It is obvious the pathway to massive over performance is...

Yesterday I commented about the massive outperformance of technology which started in earnest in 2016. According to Bloomberg the ten years of tech outperformance is the longest stretch in history with concentrations exceeding the manic 2000 apex. ...

Indexing the last five years has been a runaway success but has this success created market imbalances? Many are starting to opine valuations of the mega sized technology issues have created an environment conducive to increased volatility. ...

Did Iran back down? Did brinkmanship win again? Only history will answer this question. Perhaps the only certainty to write is the media/blogosphere is filled with official sounding but completely unsubstantiated reports. ...

Nervousness amongst many iconic market luminaries is rising with one calling the current environment the “Wild West.” In my view a major reason for this nervousness is the massive influence of the absolute dollar amount of assets in ...

Was yesterday a day of significance? Oil advanced over 2% as several oil tankers were attacked in the Gulf of Oman. As widely noted, oil has plunged since sanctions were levied on Iran as inventories have surged. Many, including me, expected inventories...

Equities rose on signs the Trump Administration is working toward easing tensions with trade partners. The President indicated that he would postpone European auto tariffs by up to six months. Treasury Secretary Mnuchin also said American ...

As widely accepted the markets are now dominated by algorithmic and technology based trading. The SEC has stated that over 90% of trading is the result of technology based trading, comprised of about 60% to 65% algorithmic and 25% to 30% indexing ...