Market Ethos

When index flows meet insider liquidity

When index flows meet insider liquidity

10 August 2026
Large IPOs can create unusual interactions between early shareholders, active investors and index-tracking vehicles. SpaceX provides a timely case study. Following its initial public offering in early June, the shares have experienced significant volatility as changes in free float have begun to influence index-related demand.

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couple discussing finances

Taking AI Inventory

28 July 2026
Nearly half the S&P is one theme. The same theme shows up as a chip designer in California, a foundry in Taiwan, a robot maker in Japan — and the risk isn’t the same in any two of them. There’s no sector tag that will surface it for you, and the fund or index you happen to pick can double it without asking.

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