All Wilmington Wire Posts

Markets Can Be Very Wrong in the Short Run

Tom Pierce, CFA® |
Wilmington Wire
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June 27, 2017—Seasoned investors are well aware that market prices are set at the margin, or alternatively, it is price and not quantity that matters for small flows. Sometimes the small percentage (or “flow”) of transactions occurring is representative of where a much larger “stock” or percentage of the market would trade; and other times,

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Illinois’ Budget Crisis Redux

Karleen Strayer |
Wilmington Wire
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June 26, 2017—The Illinois General Assembly continues its 10-day special session this week making a last-ditch effort to approve a state budget prior to the start of its fiscal year on July 1. Other states, including Delaware, New Jersey, and Pennsylvania are still hashing out their budgets, but the stakes for Illinois are much higher. 

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MSCI Includes Domestically Traded Chinese “A” Shares in its Emerging Markets Index

Clement K. Miller |
Wilmington Wire
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June 22, 2017—What did MSCI decide? MSCI, the principal international equity benchmark index provider, has decided for the first time to include some Chinese “A” shares in its emerging markets (EM) index. The decision goes into effect June 2018. “A” shares are listed on the Shanghai and Shenzen stock exchanges. Historically, the EM index has

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