About

99 Shares is an independent publication covering market structure, financial anomalies, and the mechanics of how money actually moves.

Most financial writing tells you what to think about markets. We'd rather show you how they actually work.

The pieces here are the kind of things you bring up over coffee and watch someone put their drink down. The nuance reveals how markets, incentives, and human behaviour actually intertwine. The sort of thing that makes you see a familiar industry, asset, or institution slightly differently than you did before.

The name comes from the odd lot. A round lot is 100 shares, the standard unit. 99 is one short of that, and it is the intellectual posture we write from.

For the longer version of why, please read the Manifesto.