Market Thinking

making sense of the narrative

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Tag: Active ETfs

No Profit, No Bid

The retreat of leveraged retail from Equity markets is leaving a lot of ‘concept stocks’ friendless, (no profit, no bid as Bob Marley almost said) but this looks to us more like 1987 than 2000, despite the noise and nonsense Read more…


Red Glasses Award

Back in the 1990s a colleague used to pronounce on the annual “Red Glasses Award’ designed to highlight the most egregious examples of rent extraction from gullible management teams for corporate ‘rebranding’. Our favourite back then was the 1989 multi Read more…


The illiquidity Trap

There is a corner of the FT that continues to do sterling work as financial journalists, having alerted us to, inter-alia, Wirecard, Greensill, Softbank, (especially with We Work but also some of the other egregious actions of the former Deutsche Read more…