Former professional investor. Lifelong student of markets. Most people ask what happened. I ask why. Host of Markets Without Spin: Follow the Incentives.
Joined June 2026
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When Great Stories Become Bad Investments: Markets Without Spin Episode 11 youtu.be/P3bR3MOG5G0?si=t2K7… via @YouTube
🤖 Made with AI
When Great Stories Become Bad Investments: Markets Without Spin Episode 11 youtu.be/P3bR3MOG5G0?si=t2K7… via @YouTube
🤖 Made with AI
Show Me the Incentives: How Incentives Reshaped America | Markets Withou... youtu.be/-LIveEBhp3Y?si=Eg-D… via @YouTube
🤖 Made with AI
Inside the Pipes: How Modern Markets Really Work | Markets Without Spin What’s really happening behind the trade?
Dark pools. Payment for order flow. Internalization. Hidden liquidity. youtu.be/vNo23NtgKh0?si=sAJ9… via @YouTube
Why do smart investors believe bad stories?
Episode 7 of Markets Without Spin, I explore how market illusions form why they spread, and why even sophisticated investors can get caught up in compelling narratives.. Numbers determine their fate youtu.be/pIrdPQHWfqs?si=pbn5… via @YouTube
In Episode 6 of Markets Without Spin, I examine why boards so often fail at the very job they're supposed to perform.
youtu.be/DlFAeKvEP38?si=BlVd… via @YouTube
The stock market wasn't just driven by fundamentals. It was driven by mechanics.
Passive 401(k) inflows + monetary expansion + stock buybacks created a powerful machine.
Now all three are slowing.
Are we entering the Passive Outflow Era? youtu.be/3tN4TE8WVf4?si=lOxH… via @YouTube
Most investors think markets move because of earnings, headlines and economic stories
They don’t
For 20 years, automatic 401(k) contributions, target-date funds, indexing and corporate buybacks created a powerful, largely price-insensitive
youtu.be/5hG-rqViA3s?si=iOI5… via @YouTube
Markets Without Spin is live.
In this episode, I look at the incentives behind corporate buybacks—and what happens when management incentives don't necessarily align with long-term shareholders.
Follow the incentives. youtu.be/TegNdVgCE88?si=TZCi… via @YouTube
The Buyback Machine: How Executive Incentives Drive Corporate Behavior
Why do companies buy back their own shares — and who really benefits?youtu.be/jy-1ZKoTZdE?si=G1zi… via @YouTube
Markets Without Spin is now live.
Episode 1: Credit Ratings, Incentives, and How “Safe Companies” Become Dangerous.
What happens when management's incentives stop aligning with shareholders?
youtu.be/jgtk32XGU6I
Check out my latest article: What Happens When the Passive Bid Stops Being Passive? linkedin.com/pulse/what-happ… via @LinkedIn
Franz Amussen retweeted
𝗠𝘂𝗱𝗱𝘆 𝗪𝗮𝘁𝗲𝗿𝘀' 𝗖𝗮𝗿𝘀𝗼𝗻 𝗕𝗹𝗼𝗰𝗸 𝗼𝗻 𝗖𝗵𝗶𝗻𝗮:
"I still call it uninvestable."
Not a price call, but a structural one.
The state has removed the reporters, researchers and investigators who'd tell you the truth.
And an official can gut an entire industry overnight.
@muddywatersre x @MebFaber
Franz Amussen retweeted
Fauci isn’t actually going to jail for anything. He’s 85 years old. His life’s work and the damage and death caused by it is done. And nobody rushed to get him for any of it. Not @POTUS. Not @SecKennedy. Certainly nobody in the last administration. And much of the current admin has been about sweeping the entire Covid era under the rug and moving along. They just don’t talk about it. Which tells you all you need to know about tomorrow. We’re going to get some solid bread and circus from Fauci’s testimony, but don’t be shocked when he and everyone else involved in his crimes shuffles along without any real penalty under law.
Markets move because of incentives—not headlines.
Every week I explore the hidden forces behind markets, corporate behavior, government policy, and investing.
🎙️ Listen here: marketswithoutspin.com/podca…
