Cathie Wood’s Grim 2022 Is Almost Over. Next Year Also Looks Bad (Bloomberg)
Cathie Wood’s worst-ever year wasn’t even over before the clouds started to gather for 2023. For the past few weeks, Wall Street has been slashing earnings expectations for some of the biggest holdings of her flagship $5.8 billion ARK Innovation ETF (ticker ARKK) — signaling more pain ahead for a strategy that was hammered throughout 2022 by the most aggressive Federal Reserve tightening in decades.
7 Key Insights From Money Managers and Market Experts to Set Your Portfolio Up for 2023 (The Street)
Takeaways from our exclusive 54-page Market Outlook report put together by the hedge fund managers and investing experts that power our subscription investment products. As we enter 2023, you’ve no doubt heard the “good” news. You’ve heard that the Dow Jones industrial average’s best returns always arrive after the midterm elections. And that the S&P 500 has delivered a positive return in the 12 months following every midterm election since 1960.
Friday 12/30 Insider Buying Report: CRWD, CAMP (Nasdaq.com)
On Wednesday, CrowdStrike Holdings (CRWD)’s , Roxanne S. Austin, made a $2.49M buy of CRWD, purchasing 25,000 shares at a cost of $99.74 a piece. Austin was up about 6.5% on the buy at the high point of today’s trading session, with CRWD trading as high as $106.19 at last check today. CrowdStrike Holdings is trading up about 0.5% on the day Friday. This buy marks the first one filed by Austin in the past year. And also on Wednesday, Director Wes Cummins bought $258,978 worth of CalAmp Corp (CAMP), buying 65,000 shares at a cost of $3.98 a piece. Before this latest buy, Cummins bought CAMP on 8 other occasions during the past year, for a total investment of $3.85M at an average of $3.92 per share. CalAmp Corp is trading off about 2.3% on the day Friday. So far Cummins is in the green, up about 16.6% on their buy based on today’s trading high of $4.64.
Insiders Selling Box, Verint Systems And This Consumer Electronics Giant Stock (Benzinga)
Box: The Trade: Box, Inc. (BOX) Director Daniel Levin sold a total of 56,341 shares at an average price of $30.84. The insider received around $1.74 million from selling those shares. Verint Systems: The Trade: Verint Systems Inc. (VRNT) Chief Administrative Officer Peter Fante sold a total of 8,202 shares at an average price of $35.11. The insider received around $287.98 thousand from selling those shares.
Wining Yen Bet Helps Key Square to 30% Gain (Hedge Week)
Key Square Capital Management, a macro hedge fund firm founded by ex-Soros Fund Management investment chief Scott Bessent, has posted a 30% gain this year up to 27 December, helped by a winning bet on the Japanese yen, according to a report by Bloomberg. And the 60-year-old has told clients he’s betting on a rising yen, gold and oil in 2023. In a letter sent to Key Square Investors on 20 December, Bessent described the Bank of Japan’s surprise decision to widen the yield curve control band for 10-year government bonds as a “seminal moment for global monetary policy and financial market liquidity”. And he believes the decision is just the start of an initiative to end more than a decade of aggressive easing.
