there’s nothing intelligent to be said about the future of the price of oil.

Flop around in a flat market long enough and your moving averages begin to lineup pretty perfectly. And then one day you break below them both at once – and lose the same support level you lost to trigger the August correction. I’m using SPY instead of the index here:   The people who need…

The print edition hits newsstands in a couple of days, but the article is now live on the web here:

I was blown away to be named to this list of LinkedIn’s top 90 voices of the year. Every week, professionals from around the world publish over 150,000 posts on LinkedIn. Those posts cover everything from the narrow to the macro; some of the now nearly 2 million writers come once, others have carefully honed their…

It’s been an incredible experience and I really picked up a lot about what’s going on in the industry.

Think I got it now – so if we’re investing in “global macro” funds, we don’t want too little volatility, but we definitely don’t want too much either.

I’ve written before about the IPO drought and the missing tier of investment banking support for smaller companies as a result of the decimalization of trading. What’s made transacting cheaper for investors has made the cost of being public higher and less worthwhile, to some degree (firms don’t write research when there are no profits…