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☆ Futures inch lower on Fed policy caution, China data hits sentiment
▼ + stars: | 2023-06-07 | by ( ) www.reuters.com time to read: +3 min

Summary Futures down: Nasdaq 0.16%, Dow 0.13%, S&P 0.08%June 7 (Reuters) - U.S. stock index futures edged lower on Wednesday as investors remained cautious ahead of inflation data and the Federal Reserve's policy meeting next week, while worse-than-expected China exports data for May hit sentiment. U.S. shares have also been boosted by a rally in megacap stocks and a stronger-than-expected earnings season. However, some analysts say that profit-taking may be round the corner for big tech and other major growth stocks. ET, Dow e-minis were down 43 points, or 0.13%, S&P 500 e-minis were down 3.5 points, or 0.08%, and Nasdaq 100 e-minis were down 23.25 points, or 0.16%. Shares of Yext Inc jumped 18.4% premarket after the New York-based online marketing firm raised its annual earnings forecast.

Persons: Charalampos Pissouros, Wells Fargo, Shubham Batra, Vinay Dwivedi Organizations: Dow, Nasdaq, XM, Dow e, Netflix, Securities and Exchange Commission, Invest, Yext Inc, Thomson Locations: China, U.S, Coinbase, York, Bengaluru

☆ Cathie Wood's Ark Invest misses out on Nvidia's powerful rally — dumped stock too early, citing high valuation
▼ + stars: | 2023-05-30 | by ( Yun Li | ) www.cnbc.com time to read: +2 min

Ark Invest's Cathie Wood, known for her investments in next-generation technologies, missed out on the jaw-dropping rally in Nvidia — the biggest winner in artificial intelligence this year. Her flagship Ark Innovation ETF (ARKK) exited Nvidia entirely in early January, before the chipmaker went on to enjoy a powerful rally that propelled it to a $1 trillion market capitalization. She even trimmed Nvidia holdings in her smaller funds on Thursday when the stock spiked 26% on a huge forecast beat driven by AI chip demand. & Robotics ETF (ARKQ) now has 4.4% in Nvidia, while its biggest holding is Tesla with a 14% weighting. In its base case, Ark believes Exact Sciences could compound at an average annual rate of 25%, reaching $140 by 2027.

☆ Tractor maker Deere's future in precision agriculture hinges on space-based connectivity
▼ + stars: | 2023-05-18 | by ( Morgan Brennan | ) www.cnbc.com time to read: +5 min

But the farm equipment maker has been planting the seeds for an increasingly high-tech and autonomous future – one that critically hinges on space. But connectivity is the linchpin of this vision, and space fills a void left by fiber and traditional cellular signals. "We think satellite communications is a really intriguing, interesting technology to pursue to sort of solve that communications gap." Last fall the company put out a request for proposal to the satellite communications industry to partner on space-based connectivity services. "We had this opportunity to bring two industries together — satellite space communications and agriculture — and say, 'What kind of value could we create?'"

☆ David Tepper’s Appaloosa hedge fund raises Uber stake, adds small bet on Cathie Wood's innovation fund
▼ + stars: | 2023-05-15 | by ( Yun Li | ) www.cnbc.com time to read: +1 min

Hedge fund veteran David Tepper's Appaloosa Management dramatically increased its stake in Uber last quarter, while building a small bet on Cathie Wood's flagship innovation fund, according to a new regulatory filing. Tepper boosted his Uber stake by 390%, to $190 million, at the end of March, making it his third biggest holding. The hedge fund also hiked its stake in Alphabet to more than $200 million, making the Google parent Appaloosa's top holding. Meanwhile, Appaloosa also added an $80 million stake in FedEx last quarter, making the freight carrier its ninth biggest bet at the end of March. The hedge fund took a small stake in Ark Innovation Fund ( ARKK ), worth $20 million at the end of March.

☆ Matthew Tuttle got the financial world buzzing with ETFs that short everything Cathie Wood's ARK and Jim Cramer buy. He told us the next big ideas on his radar.
▼ + stars: | 2023-04-11 | by ( Marley Jay | ) www.businessinsider.com time to read: +5 min

In late 2021 Matthew Tuttle launched a fund that bets against the ARK Innovation ETF. A month ago he started a new ETF that shorts stocks picked by Jim Cramer of "Mad Money." Tuttle, the CEO and investment chief of Tuttle Capital Management, is starting to get a lot of requests for "anti"-ETFs. When shorting big name investors makes senseIt's easy to assume Tuttle is motivated by personal or professional dislike for Wood and Cramer. While he's considered creating an anti-fintwit ETF, Tuttle is still positive on Fintwit itself.

☆ Investor Bill Miller aims to top the S&P 500 consistently once again, but this time with new ETFs
▼ + stars: | 2023-04-06 | by ( Jesse Pound | ) www.cnbc.com time to read: +2 min

Notable investor Bill Miller is getting into the exchange traded fund game, according to securities filings. Miller Value Partners made the initial filings for what appears to be its first ETFs on Wednesday — the Miller Value Partners Appreciation ETF and the Miller Value Partners Leverage ETF. The leveraged ETF is also actively managed, but will include leveraged ETFs and swaps on the S & P 500 in addition to equities and standard ETFs. Miller Value Partners will use an "adaptive, data-driven approach" to determine each day whether the fund should be leveraged or unleveraged, the filing said. While Miller has made his name as a value investor, he has expanded his portfolio to include bets on certain tech stocks like Amazon .

☆ US stocks could end this year 14% higher because banking turmoil will trigger a Fed pause, veteran investor Ed Yardeni says
▼ + stars: | 2023-03-30 | by ( George Glover | ) www.businessinsider.com time to read: +4 min

The S&P 500 could hit 4,600 points by the end of this year, according to Ed Yardeni. The veteran investor turmoil in the US banking sector to lead to the Federal Reserve pausing its rate hikes. "This banking crisis is going to be very well-contained," the veteran investor told CNBC on Wednesday. "And at the same time, I think it's going to keep the Fed from raising interest rates even further," he said. "We saw that last year with the meme stocks, with the SPACs, with the Ark stocks," he added.

☆ Coinbase says it could get sued by the SEC, which has identified 'potential violations of securities law' at the exchange
▼ + stars: | 2023-03-23 | by ( Zinya Salfiti | ) www.businessinsider.com time to read: +2 min

Coinbase said it got a Wells notice from the SEC alerting it of possible enforcement action. The regulator told the crypto exchange it had identified potential violations of securities law, but little more. Coinbase said Wednesday that it got a Wells notice from the SEC alerting it of potential enforcement action for possible violations of securities law after "a cursory investigation," but that the SEC didn't expand much more. The exchange said the notice from the SEC touched on unspecified portions of its listed digital assets, its staking service, its self-custody crypto wallet and an aspect of its exchange called Coinbase Prime. The famed money manager now holds a 7% stake in the crypto exchange worth $837 million.

☆ Karen Firestone: This is what’s working in today’s market – and what should keep working
▼ + stars: | 2023-03-20 | by ( Karen Firestone | ) www.cnbc.com time to read: +5 min

However, whatever the overall market action, there are always stocks that outperform considerably, encouraging an effort to pinpoint what the market craves, even in tough times. We examined the best performing stocks this year, from the universe of equities with a market capitalization over $4 billion. This industry, along with communication services, led the market up in 2020 and 2021 but collapsed in 2022. Tech stocks rose during Covid as demand accelerated, then became priced to perfection, in many cases. Karen Firestone is chairperson, CEO and co-founder of Aureus Asset Management, an investment firm dedicated to providing contemporary asset management to families, individuals and institutions.

☆ ETFs show that investors are confused about where the markets are going
▼ + stars: | 2023-03-16 | by ( Bob Pisani | ) www.cnbc.com time to read: +3 min

A common tool to gauge the market's intent is following inflows and outflows in large ETFs. There have been outflows from corporate bond ETFs like Vanguard Short-Term Corporate Bond (VCSH), high yield funds like SPDR High Yield ETF (JNK), bank loan ETFs like SPDR Senior Loan ETF (SRLN) and bank stock ETFs like Invesco KBW Bank ETF (KBWB). The Credit Suisse issue was somewhat different. Europeans at the conference were surprised that there was a focus on Credit Suisse. The common thread of the commentary was that Credit Suisse had never recovered from the financial crisis, that it had been in decline for nearly 20 years.

☆ There's been one big beneficiary of the banking crisis so far: Cathie Wood
▼ + stars: | 2023-03-15 | by ( Yun Li | ) www.cnbc.com time to read: +2 min

While most of the Wall Street is in panic mode amidst the spreading banking crisis, one big investor is having a field day. Cathie Wood's flagship Ark Innovation ETF (ARKK) reeled in $397 million in new money just Tuesday alone, notching the biggest one-day inflow since April 2021, according to FactSet. She expects a grand rally could be upon her innovation stocks when rates stop their ascent. ARKK 1Y mountain Ark Innovation ETF ARKK has rallied 21% this year as Wood's top holdings, such as Tesla and Roku , rebounded dramatically. The innovation fund is focused on advanced technology companies in areas such as genomics, robotics, internet and fintech.

☆ Cathie Wood's ARK Fund set for worst week since Sept as higher rates loom
▼ + stars: | 2023-03-10 | by ( David Randall | ) www.reuters.com time to read: +2 min

Tesla (TSLA.O), the fund's top holding, is down nearly 11% for the week to date, while online education company 2U Inc (TWOU.O) is down nearly 18% for the week. Overall, the fund is down approximately 10% for the week to date, its worst weekly performance since an 11.1% decline in the week ending Sept. 23, according to Refinitiv data. None of the 27 companies in the fund's portfolio are in positive territory for the week. Higher rates weigh heavily on technology stocks by increasing the cost of borrowing and decreasing the value of expected future profits. "(ARK) is a good barometer of sentiment toward higher risk, higher reward investments.

☆ Cathie Wood's flagship fund pockets $300 million in fees since its 2014 launch – but her investors haven't been so lucky
▼ + stars: | 2023-03-09 | by ( Zahra Tayeb | ) www.businessinsider.com time to read: +2 min

Cathie Wood's Ark Invest has raked in $310 million in fees on its flagship ARK Innovation ETF fund since its inception, new research shows. ARKK's annual management fees of 0.75% of assets is double the average of actively managed ETF's, per FactSet. The data shows investors have remained loyal to Wood's ARK Innovation ETF (ARKK) despite its poor performance in 2022. Per Morningstar data, Wood's fund has lost $9.5 billion in investor money over the years with her risky bets. Wood's earnings from ARKK's management fees are still going strong in the new year.

☆ Betting against Jim Cramer just became a lot easier with the launch of a new ETF that shorts the TV host's stock picks
▼ + stars: | 2023-03-02 | by ( Morgan Chittum | ) www.businessinsider.com time to read: +3 min

"Mad Money" host Jim Cramer makes a lot of stock market calls, and not all of them pan out. The Inverse Cramer ETF bets against the financial pundit, by shorting stocks he's bullish on. The product is the handiwork of the money manager known for shorting Cathie Wood's stock picks. The Inverse Cramer ETF (SJIM) shorts equities the well-known financial pundit is bullish on. The Inverse Cramer ETF is an actively managed portfolio that carries an equally-weighted 20-50 names, Tuttle told Bloomberg, with the product having an expense ratio of 1.2%.

☆ David Einhorn on his winning short 'bubble basket' strategy that he's continuing
▼ + stars: | 2023-03-01 | by ( Jesse Pound | ) www.cnbc.com time to read: +2 min

Hedge fund manager David Einhorn said Wednesday that he is continuing his bets against "bubble baskets" of stocks that helped Greenlight Capital rebound in 2022. In his annual letter released last month, Einhorn defined a bubble stock as one that "could fall at least 80% and still not appear cheap to us." Einhorn told CNBC on " Halftime Report " on Wednesday that the firm is still betting against some of those stocks. The fund manager said Greenlight is still betting against that basket of stocks, though at a smaller weight. "I think most people in the market right now cannot do valuation, they choose not to do valuation, or structurally they're valuation agnostic," Einhorn said.

☆ Billionaire investor Bill Gross slams the hype around Cathie Wood, with Ark's flagship fund lagging top tech stocks
▼ + stars: | 2023-02-28 | by ( George Glover | ) www.businessinsider.com time to read: +3 min

Billionaire 'Bond King' Bill Gross slammed the hype around Ark's top stock-picker Cathie Wood Monday. He pointed out her flagship ETF has lagged funds tracking top tech stocks over the past five years. Wood is known for her big bets on disruptive tech, including AI and blockchain stocks. "CNBC/media idolatry with Cathie Wood is absurd," the PIMCO founder said on Twitter Monday. Read more: 'Big Short' investor Michael Burry points to the steep drop in ARKK stock - and says Cathie Wood's flagship fund was always bound to collapse in value

☆ Ark Invest's chief futurist on how AI race threatens Google's 'fragile' business model
▼ + stars: | 2023-02-19 | by ( Kevin Schmidt | ) www.cnbc.com time to read: +3 min

"I think Google is fundamentally impaired by this transition to AI," Brett Winton, the chief futurist at Cathie Wood's Ark Investment Management, told Melissa Lee on CNBC's ' Fast Money ' recently. "Their entire business model is built around taking people and delivering them to the next byte, and these AI systems actually deliver answers to the end users" he said. 'Fragile' model Moving forward, Winton doesn't see head-to-head competition between search engines necessarily leading to a winning AI strategy. "I think Google's model is fragile, and it doesn't necessarily accrue to Microsoft's benefit," he said. "It's much clearer that there will be a lot of money spent on AI investment," Winton said, adding that the key for either tech giant to be well-positioned is by providing AI capabilities in their software."

☆ Cathie Wood's Ark Invest snapped up $35 million of Shopify stock as the e-commerce company suffered one of its worst-ever trading days
▼ + stars: | 2023-02-17 | by ( Morgan Chittum | ) www.businessinsider.com time to read: +2 min

Cathie Wood's Ark Invest increased its Shopify holdings as the company's shares plummeted Thursday. The famed money manager snapped up 609,763 Shopify shares on Thursday for its ARK Innovation (ARKK) exchange-traded fund. Shopify is the eighth largest holding in Ark's flagship fund, with the ETF holding $391.3 million of the stock. Ark Invest took the stock price's decline as a chance to buy Shopify at a discount, a strategy Wood's firm has implemented many times before. As a selling point to investors for her innovation fund, the Ark Invest CEO said: "Look through [the Nasdaq] now, you will not find the kind of disruptive innovation, it certainly doesn't dominate those indexes."

☆ Cathie Wood's Ark Invest piles into Shopify, buying $35 million as stock sells off on weak guidance
▼ + stars: | 2023-02-17 | by ( Yun Li | ) www.cnbc.com time to read: +1 min

Ark Invest's Cathie Wood doubled down on e-commerce play Shopify Thursday amid a sharp sell-off on the company's disappointing financial guidance. The e-commerce stock plunged 15.9% Thursday after it issued weaker-than-expected revenue guidance for the current quarter. Ark Invest is particularly bullish on social commerce, where Shopify enables individual consumers to purchase goods straight from social media platforms. Such social commerce has grown almost four times faster than traditional e-commerce n the past three years, Wood said in a recent letter to investors. "Social commerce is taking significant share from traditional e-commerce and off-line retail sales," Wood said.

☆ Retail investors are flooding into the stock market at a record level — Here's what they are buying
▼ + stars: | 2023-02-17 | by ( Michelle Fox | ) www.cnbc.com time to read: +3 min

Retail investors poured a record amount of money into the stock market in January, according to Vanda Research. Retail investors' interest in the market picked up during the Covid pandemic, at one point fueling a meme-stock frenzy. JPMorgan's chief global market strategist, Marko Kolanovic, also recently noted the pickup in retail interest. Here are the top securities bought by retail investors so far this year, as of Feb. 15, according to Vanda Research. "Contrary to popular belief, retail money market funds' net assets at an all-time high suggest that retail investors still have plenty of capital to allocate to riskier investments, provided that market conditions remain supportive," he added.

☆ Markets are kicking off a make-or-break stretch with inflation, jobs, and more Fed policy looming
▼ + stars: | 2023-02-14 | by ( Phil Rosen | ) www.businessinsider.com time to read: +6 min

Fed Chairman Jerome Powell warned — once again — last week that rates may eventually end up higher than markets anticipate as the fight against inflation remains far from over. Now, ahead of the CPI report, let's check in with the outlook for stocks. To Bernstein strategist Matthew Palazzolo, today's inflation reading will kick off a momentous five-week stretch for equities. The jobs report on March 3, the next inflation report on March 14, and the Fed meeting on March 22 will shape the rest of the year for stocks, he explained to my colleague George Glover. Your best bet for where the stock market's going this year can be found in the two-year Treasury yield, according to Mohamed El-Erian.

☆ 'Big Short' investor Michael Burry reveals new bets on Alibaba, MGM, and JD.com
▼ + stars: | 2023-02-14 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +3 min

Michael Burry built new stakes in Alibaba, JD.com, and MGM Resorts last quarter. The investor of "The Big Short" fame may have spied value in beaten-down Chinese tech stocks. The investor of "The Big Short" fame bought 50,000 American Depositary Shares (ADS) of Alibaba, valued at $4.4 million on December 31. He also scooped up 75,000 American Depositary Receipts (ADR) of JD.com, worth $4.2 million at the end of last year. Burry's Scion Asset Management also purchased 100,000 shares of MGM, a position worth $3.4 million at last quarter's close.

☆ 'Big Short' investor Michael Burry compares the stock market's rally to the dot-com bubble - and hints he's bracing for an epic crash
▼ + stars: | 2023-02-08 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +4 min

Michael Burry signaled the stock-market rebound this year reminds him of the dot-com bubble. The "Big Short" investor highlighted how stocks and interest rates both plunged in 2001 and 2002. Burry has warned the S&P 500 could plunge by over 50%, and recently tweeted one word: "Sell." Notably, Burry emphasized in October that he's bracing for a collapse in stocks that dwarfs the dot-com crash, as there's so much money parked in index funds today. Burry shot to fame after his billion-dollar bet against the mid-2000s housing bubble was immortalized in the book and movie "The Big Short."

☆ Cathie Wood's Ark Invest has loaded up on these 2 small-cap names for the last 7 trading sessions
▼ + stars: | 2023-02-08 | by ( Morgan Chittum | ) www.businessinsider.com time to read: +2 min

Cathie Wood's Ark Invest has bought up two little-known stocks several trading days in a row. The well-known investor bought shares of metal 3D printing company Velo3D for the past eight trading days and a clinical-stage oncology treatment company Repare Therapeutics for the past seven sessions. Velo3D is up 65% in the past month, while Repare Therapeutics declined 6.39% in the same period. Ark's flagship ETF, Ark Innovation ETF (ARKK), just logged its best performing month, rising 28% in January. The Nasdaq Composite is up 12% in the past month amid a broader rally in equities.

☆ ChatGPT has gone viral. Now Wall Street is flocking to AI.
▼ + stars: | 2023-02-02 | by ( Phil Rosen | ) www.businessinsider.com time to read: +6 min

Today's newsletter covers everything you want to know about how the viral ChatGPT language tool is colliding with the world of Wall Street. Wall Street is clamoring to ride the ChatGPT wave, and investors are pouring into anything that has exposure to the budding artificial intelligence sector. A batch of obscure small-cap bot stocks have made sizable gains, and certain Chinese AI stocks have climbed 60% in a matter of weeks. The stock market just hit a rare trifecta of bullish indicators. The stock market rally will fade as the Fed combats inflation and a recession hits, according to a Credit Suisse strategist.

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