May

24

Apologies if I have asked this one before. Mr Jovanovich's post reminded me of B.S., about whom I've a longstanding puzzle.

Why don't Case-Shiller indices see more volume?

There is exactly one market-maker for all of the Case-Shiller indices. He lives at 123 Maple St in Greenwich and has decades of bank experience. To me there are natural shorts (everybody with a mortgage in Indianapolis should short Indianapolis) and natural longs (everybody without a mortgage in Indianapolis should long 1/20th Indianapolis). For hot coastal markets there are even more natural longs.

And yet they see such low volume. B.S. is quite famous, and so are his indices. (Major US newspapers cite them.) What gives?


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