Markets Edge

ReadingCollectors with eight-figure liquidations are bidding against each other on items that don't depreciate on news cycles. This is capital flight masquerading as connoisseurship.

ReadingElliott does not bet on consumer brands for love of athleisure. Lululemon's pricing power and margin structure are the draw. Expect operational pressure within 90 days.

ReadingThis is not activism in the traditional sense—it's positioning before a structural shift. Sachem is buying the team's next move, not pressuring the current one.

ReadingActivist stakes in mid-cap names often precede either a sale process, a cost restructure, or an asset spin. Infomart's fundamentals have not changed—the capital structure assumption just did.

ReadingThis is not about governance quality—it is about removing a middleman layer. If JPMorgan's internal tool performs at parity with Institutional Shareholder Services, the proxy advisory model is now under structural pressure.

ReadingPublic market multiples are being repriced by operators who no longer need to justify quarterly performance to retail. The migration into private creates a two-tier capital market.

ReadingThis signals a structural shift in family office behavior. When established offices start trading secondaries, it means the distributed returns model is broken. The multi-family office is not coming—it is already here.