The Latest Market Performance News and Conditions on iBillionaire.
Here’s a summary.
Thanks to his large investment Spotify, one hedge fund manager in particular seems to have had a good week: 👏 Chase Coleman 👏 More on him below.
Best performer this week: Spotify stock +10.21%
Spotify announced that it bought a podcast start-up last week, Gimlet, and that it wanted to expand more into the “nascent” podcast market, which is growing in popularity, in 2019. Spotify last weekend also announced in its earnings report that the company posted its first-ever profit in the most recent quarter. These two things are likely a large part of this week’s stock rise.
Interestingly, we just noticed yesterday that Spotify is top tech investment manager Chase Coleman’s #1 holding as of December 31, 2018. It replaced Amazon, which was his largest holding last quarter.
We know this insight because of our iBillionaire Research App, through which we track hedge fund manager investments in order to gain insight into where the top investors are putting their money, as well as to create our Billionaire Mix Strategy. Every quarter, holdings are released (the latest release was yesterday), and we use our system to check out the holdings and note trends.
P.S. We have exciting news about our Research App below.
Worst Performer: Facebook Stock -2.89%
Facebook stock was hit by the news that it might have to pay a record fine for the Cambridge Analytica scandal.
Interestingly though, a recent hedge fund manager trend we noticed in the latest portfolio release was managers selling every single FAANG stock (Facebook, Amazon, Apple, Netflix, and Google), *except* for Facebook. Actually, more managers bought Facebook than sold last quarter. That wasn’t true for any other FAANG stock.
First, some exciting iBillionaire news.
- We are planning to offer iBillionaire Research, our app which reveals the portfolios of 18 top hedge fund managers every quarter, to all of our investors for FREE soon. For example, Chase Coleman, who we mentioned above is one of them. You may know that it’s the technology from our research app that enables us to create the Billionaire Mix Strategy (the top stocks most managers agree on) on our platform.
- Currently, we charge a $9/month subscription fee for the Research App but if you are an investor on iBillionaire, we excited to announce that you can:
Reply YES and get the Research App for FREE soon
- The second bit of iBillionaire news is that we launched three new investment strategies on the platform, U.S. Government Bonds (20+ Year), U.S Government Bonds (7-10 Year), and Smaller Businesses. We launched the government bond strategies to provide some lower-risk alternatives in light of potential market turbulence, and we launched Smaller Businesses (small cap U.S. stocks) in order to provide a wider range of U.S. equity exposure.
Now for market news.
This week, the S&P 500 SPY ETF was up +2.51%. The strong bump likely came from positive China trade talk news, which usually has a similar effect on the market. The Dow Jones Industrial Average and NASDAQ Composite were also up quite a bit: +2.95% & +2.30%, respectively. Meanwhile, bonds (BND ETF) were the definition of flat, returning +0.01%, but gold (GLD ETF) had a decent week, +0.56%.
Other important news
- Chase Coleman, who we mentioned above, is invested in five interesting stocks as of December 31, all of which IPO’d in 2018: Eventbrite, Shopify, Zendesk, Pinduoduo, iQiyi, Farfetch, and of course, Spotify which IPO’d in early 2018. Currently Spotify is the only one on our platform but we may consider adding these as well if there’s interest. Let us know if you are interested, as you always do.
- Unemployment claims rose again this week. This is generally viewed as a sign that the economic cycle might be beginning to contract.
- Retail sales had their biggest decline since 2009, also a sign of a contraction.
- A number of marijuana company earnings were released this week. Last quarter was the first quarter in which recreational weed was legal in Canada, so this release was a big, closely-watched one.
Have a great weekend!
Important Note: The above performance is as of February 15, 2018. Past performance does not indicate future performance. The information included in this publication is for educational purposes only. iBillionaire gathers its data from sources it considers reliable. However, iBillionaire does not guarantee the accuracy or completeness of the information provided in this publication. The opinions presented reflect the current judgment of the authors and are subject to change. iBillionaire makes no warranties, express or implied, regarding the accuracy of this information or the subjective opinions expressed by the authors. Officers, directors, employees and affiliates may have positions in the securities of companies discussed. The data included in this publication cannot and is not intended to, in and of itself, be used to determine which securities to buy or sell, or when to buy or sell any security or investment, or represent directly or indirectly, that any graph, chart, formula or other device being offered will assist any person in making his own decisions as to which securities to buy, sell, or when to buy or sell them. All investors should consider the limitations of the information provided and the difficulties with respect to its application to any investing activity.