Financial market data grew 6.5% last year and is now a $30B market.

Data Boom Fuels London Stock Exchange’s Deal With Refinitiv

Tough market for smaller brokers in the U.K.

Tough times for brokers as they face long list of challenges

Financial engineering can move the stock price materially. But now the LSE is about to learn that turning around this legacy financial data business will not be easy. This is round 4 or 5 (or more?) of massive cost cutting and turnaround strategies in the past decade. Good luck Refinitiv.

LSE Still Needs to Prove Logic of Buying Refinitiv

Benedict Evans@benedictevans

Best feature of iOS 13

July 29th 2019

249 Retweets1,099 Likes

Two clear takes on the recent fed rate cut.

1. Today’s Reckless, Irresponsible, Politically-Motivated FOMC Rate Cut

2. 1 big thing: Jay Powell's constraints

One strategy public companies are taking to tell a bigger story is to talk up their TAM. A page out of the VC startup playbook. Nice writeup by Barron’s.

How’s Your TAM? And How Did ‘Total Addressable Market’ Become the Buzzword of the Moment?

I am consistently amazed at the amount of VC fundings going to robo-asset managers and “new” digital banks.

ShitFund@ShitFund

"We're going to compete against Vanguard & Blackrock in a race to the bottom in asset management fees & overpay to acquire deposits vs banks to do it" - VC logic

Jerry Capital@JerryCap

"Financial institutions can’t offer high rates on cash, because low rates on cash is how they make money. For robos, the opposite is true. An AUM based biz model for investments means offering a high interest rate account is a great complement to their business model."-h/t @a16z https://t.co/X21XVAIiuQ

August 3rd 2019

5 Retweets37 Likes

“The research, which examined US equity mutual funds between 2004 and 2017, said index funds were overall 12.5 percentage points less likely to vote against company executives when compared with active funds.”

US index funds less likely to hold companies to account, study finds

Saudi Arabia is now an emerging market according to MSCI and other index providers. Driving massive allocation to Saudi stocks.

But Saudi market index up only 6% over past 12 months. Surprised it’s not much higher.

Saudi stocks attract billions of dollars in inflows