Why the most expensive decision in a bull market is the trade you make because you are bored. A note on the most expensive trade in a bull market: the one you make because everyone else seems to be making it.
Free for everyone, no account needed — the same feed we read before we write.
Marketshare desk8h ago
Two-year yields barely moved this week even as longer maturities sold off, leaving the curve steeper than it has been all quarter. For equity owners, the front end is still the number that prices everything else.
Marketshare desk1d ago
Capacity for chip-on-wafer packaging remains sold out into next year. The practical consequence is that pricing power has shifted from the designers to the manufacturers who can actually assemble the parts.
Marketshare desk1d ago
Discount retailers and premium experiences are both growing while mid-priced discretionary sits still. That pattern has historically been about the trade-down, not about aggregate demand collapsing.
Stock research
Every leading-edge logic and memory fab on earth has to buy one company's lithography machines. That is a toll booth on compute itself — and the market still prices it like a cyclical.
Preview the note →Costco's profit is not in the merchandise. It is in the membership renewal rate. That single number explains why the business survives recessions that flatten every other retailer.
Preview the note →The commerce business pays for the fintech business, and the fintech business makes the commerce business impossible to compete with. Most investors still value one and ignore the other.
Preview the note →The research letter
The free wire tells you what happened. The letter tells you what we think it is worth, what would change our mind, and how we size it. This is the work we do for our own portfolios.
Free for developers
Everything in the market wire is available as JSON at /api/news. No key, no account, CORS open. Cache-friendly and rate-limited by us, not by a paywall.
?ticker=ASML$ curl "https://marketshare.example/api/news?limit=2"
{
"source": "Marketshare market wire",
"live": true,
"count": 2,
"items": [
{
"headline": "…",
"source": "…",
"url": "https://…",
"publishedAt": "2026-10-28T13:10:00Z",
"tickers": ["ASML", "TSM"]
}
]
}How we work
Every note states what we think will happen, why, and the exact evidence that would prove us wrong. No naked calls.
We are not a fund and we do not manage money. Everything here is research and education, written by people who read filings.
The market wire and its JSON endpoint are open to everyone, with no key and no account. The letter is what you pay for.
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