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Tips For Improving Portfolio Performance: Mark Minervini

U.S. Investing Champion and “Market Wizard” Mark Minervini joined the IBD Live team on Feb. 1 to share his top tips for improving portfolio performance.

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  • Goldman Crypto Chief Flags Institutional Demand Driving Boom

    (Bloomberg) -- Goldman Sachs Group Inc. is seeing substantial demand for digital assets from institutions as it works to restart its cryptocurrency trading desk.In a survey of nearly 300 clients by the firm, 40% currently have exposure to crypto, according to Matt McDermott, global head of digital assets for Goldman Sachs Global Markets Division, speaking on a podcast. The situation is different now compared with the 2017 Bitcoin bubble due to “huge” institutional demand across different industry types and from private banking clients, he said.McDermott confirmed plans reported last week for Goldman to restart its crypto trading desk, which he said will be “quite narrow initially,” with a focus on areas such as CME Group Inc. futures. He said that U.S. banks need to cope with regulations that bar them from trading physical cryptocurrencies.Cryptocurrency enthusiasts argue that digital tokens and the underlying blockchain technology are gaining acceptance among more mainstream institutions and investors. The derivatives market and new investment products have made digital assets more easily accessible. Some strategists posit that the asset class is a potential diversifier for portfolios, while others are more skeptical and blame speculators for inflating a possible bubble in Bitcoin and other cryptos.Bitcoin rose as much as 3.4% on Monday in Asia, while Ether gained as much as 5.3% to the highest since Feb. 23.Read more: Chinese Beauty App Becomes First Major Company to Buy EtherBlockchain technology offers “a real diverse set of opportunities for the financial industry and something that there’s a huge amount of momentum” for in the market, McDermott said. “We know firsthand just given the various different projects we’re working on. And we see this as a hugely exciting time exploring the potential of that technology.”As for prices, 76% of those surveyed see Bitcoin ending 2021 between $40,000 and $100,000, McDermott said. However, 22% expect it to end the year over $100,000.Read more: Does Bitcoin Boom Mean ‘Better Gold’ or Bigger Bubble? QuickTake(Adds chart.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.

  • Earnings to Watch Next Week: MongoDB, Campbell Soup, JD.com and Oracle in Focus

    Following is a list of company earnings scheduled for release March 8-12, along with an earnings preview for select companies. Next week’s earnings are probably not much significant for major market movements, but it is adequate to gauge investors’ sentiment.

  • AUD/USD Forex Technical Analysis – Rising Yields, Trade Under .7732 Fueling Early Bearish Tone

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  • Stocks dip as yields hold near one-year high

    A gauge of global stocks dipped in choppy trading on Monday as investors eyed the yield on U.S. Treasuries for signs of inflation pressures in the wake of the U.S. Senate's passage of a $1.9 trillion stimulus bill. "If rates are grinding higher because people are getting optimistic about what economic growth looks like, that is still supportive for equity prices," said Tom Hainlin, global investment strategist at U.S. Bank Wealth Management's Ascent Private Wealth Group in Minneapolis. U.S. Treasury Secretary Janet Yellen said on Monday that President Joe Biden's coronavirus aid package will provide enough resources to fuel a "very strong" U.S. economic recovery, and noted "there are tools" to deal with inflation.

  • What Worries BOE Officials Now Is Jobs, Not the Inflation Threat

    (Bloomberg) -- The Bank of England is moving to tamp down talk about rising interest rates and inflation, focusing attention on risks to the U.K. economy as it struggles to emerge from lockdown.A majority of the central bank’s policy makers, led by Governor Andrew Bailey, have spent the past two weeks pointing out that slack in the economy. That includes unemployment that’s likely to rise and remain high for months to come, indicating little to push up the pace of consumer price gains.“There is a light at the end of the tunnel,” Bailey said in a speech on Monday. “A note of realism though. Our latest forecasts in essence painted a picture of an economy that starts with a lower level of activity.”Rising yields in bond markets and signs inflation is about to pick up have spurred speculation that the bank is preparing to shift toward tightening monetary policy to ensure a recovery doesn’t overheat. With a contraction due in the first quarter and Covid restrictions lingering until the middle of the year, the bank is signaling it’ll maintain the stimulus measures it has in place for many more months.The question facing policy makers at their meeting on March 18 is whether market pricing of a 50-basis-point rate hike over the next three years, in addition to the recent gain in the pound’s exchange rate, is warranted, said Elizabeth Martins, senior economist at HSBC Holdings Plc. “And if not, then how and when” to act, she wrote in a report to clients.A handful of members of the Monetary Policy Committee have spoken out about the risks to the recovery.Jonathan Haskel said on March 5 that he’s “open to the possibility that the economy might need further support.”Gertjan Vlieghe said Feb. 22 that he worries “labor market slack will be more persistent and more disinflationary.”Silvana Tenreyro said on March 3 that she sees no risk of inflation based on the BOE’s current forecasts.Only the central bank’s Chief Economist Andy Haldane has warned about the prospect of inflation picking up, calling it a “tiger has been stirred” that may “prove difficult to tame.”Inflation has remained below the bank’s 2% target for 1 1/2 years. While economists expect it to accelerate to just below that goal this year, that will mostly be driven by temporary factors such as energy prices that the BOE will likely ignore.What Our Economists Say ...“We expect elevated unemployment to push inflation back below target in the first half of 2022. That’s likely to prevent the BOE from taking a hawkish turn this year.”--Dan Hanson, Bloomberg Economics. Click here for the full REACT. There are other issues that could keep price growth contained. Unemployment reached 5% in the fourth quarter and is expected to average 5.9% next year, according to the Office for Budget Responsibility. Another 16.1% of workers, or about 4.9 million people, were furloughed in January, receiving 80% of their pay while workplaces are closed.The central bank has promised to buy 150 billion pounds ($208 billion) of bonds this year as part of its quantitative easing program, which effectively keeps a lid on interest rates in markets. It’s buying about 4.4 billion pounds of assets a week and plans to slow that pace later in the year to ensure the program stretches until the end of December, Deputy Governor Dave Ramsden said Feb. 17.“The correct stance is still the status quo,” said Fabrice Montagne, chief U.K. economist at Barclays, who reckons a pessimistic mood in markets is starting to dissipate. “They most likely won’t push back if you have one or two hikes priced in over the next two years. This situation could hold on for a while.”The central bank cut its benchmark rate twice at the start of the pandemic to a record low of 0.1%, and policy makers have repeatedly said they need evidence of a sustained recovery before considering to withdrawal monetary support.Chancellor of the Exchequer Rishi Sunak’s budget statement last week also fanned some of the optimism about a strong recovery, extending furlough payments until September and allowing millions more workers to access benefits. For the bank, that move will help limit unemployment and preserve jobs.Investors and some economists are looking beyond the pain that’s still to come with the country mired in its third national lockdown. They’re focusing on what Haldane says may be 300 billion pounds of unexpected savings that households accumulated while foreign holidays and eating out were banned and on the sharp recovery in output that’s expected when restrictions lift.Any tightening may not come for years, maybe until the first half of 2023, said Allan Monks, an economist at JP Morgan Securities Plc. Still, the bank may want to send a signal in the next few months that the next move is probably up, which would rule out both more QE and negative rates.“We expect the MPC to make another hawkish transition over the coming months, at least implicitly acknowledged that some tightening policy will be required over its three-year horizon,” Monks wrote in a note to clients.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.

  • SNB Breathes Easy as Franc Drop Rebuts Critics on Two Fronts

    (Bloomberg) -- For Swiss National Bank President Thomas Jordan, the franc’s precipitous drop to a 20-month low against the euro has come at a helpful moment after an open season for attacks on his policies.Just over two weeks ago, his institution endured one of the most stinging critiques of its monetary regime in recent years, as a trio of prominent economists accused officials of not trying hard enough to stoke inflation.That followed a salvo three months earlier from the opposite perspective as the U.S. Treasury under Donald Trump’s former administration branded Switzerland a manipulator, damning its framework for capping currency gains with interventions.Now, after portfolio shifts by global investors positioning for higher inflation sent the franc down 3% within a fortnight, crossing the 1.10 per euro mark, SNB officials suddenly have breathing space on both fronts.With the Swiss economy suffering due to the pandemic, the weaker currency can give growth and inflation a welcome fillip. The franc’s downward momentum also means the central bank doesn’t need to lift a finger in foreign exchange markets, avoiding irritation to the new U.S. administration.“It’s really positive for the SNB, because they don’t need to intervene,” said Alessandro Bee, an economist at UBS Group AG. “Interventions would be a difficult topic when you have to sit down with the Americans.”Big SpenderThe currency drop, triggered by a selloff of haven assets on expectations of a global recovery after the pandemic, is fortuitous for an institution that has spent years and eyewatering sums to rein in the franc and ward off deflation.Yet even with the SNB’s interventions, and the world’s lowest interest rate of -0.75%, price pressures have stayed persistently feeble.That prompted Stefan Gerlach, a former Irish central bank official, who is now at EFG International AG, Yvan Lengwiler of the University of Basel, and Charles Wyplosz of Geneva’s Graduate Institute to call for the SNB to revise their inflation target and adopt a new currency strategy.Their attack last month was one of the most powerful the SNB faced for a while. Officials, who have used aggressive interventions to fight franc gains for more than a decade, responded that they saw no need to overhaul their approach.That policy is what drew the attention of the U.S. Treasury in December, when it designated Switzerland a currency manipulator along with Vietnam.Uncomfortable SNB officials responded with defiance that they won’t stop intervening, though data suggest the intensity of any market activity has diminished of late. The amount of cash commercial banks hold with the central bank -- an early indicator for foreign exchange purchases -- declined last week.Policy makers will probably reiterate their intervention pledge, along with their commitment to negative rates, at the March 25 monetary policy decision.How or when the Swiss can resolve the disagreement is unclear. Even at a level of around 1.11 per euro, economists still consider the franc strong. It traded at 1.10878 per euro as of 11:09 a.m. in London on Monday.Standard Chartered strategists expect the franc to drop to 1.1450 per euro in the third quarter before reversing again. “The recent move higher in EUR-CHF has legs,” they wrote in a report.Whether any drop can generate sustained price growth remains to be seen. With inflation negative for more than a year, and paltry wage growth, pressure may remain on the SNB to follow counterparts such as the European Central Bank with a strategy rethink.“They need to conduct a review; Is right now the right moment? I’m not sure,” said Banque Pictet & Cie SA economist Nadia Gharbi. “I think they’ll cross their fingers and hope the franc doesn’t appreciate again.”(Updates with franc in 14th paragraph.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.

  • What Is The DXY Index?

    The US dollar is the most widely used and recognized currency worldwide. Central banks and governments hold US dollars as the primary exchange asset of their foreign exchange reserves. The dollar is the world’s reserve currency.

  • Zoom Founder Eric Yuan Transfers $6 Billion Worth of Shares

    (Bloomberg) -- Eric Yuan, chief executive officer of Zoom Video Communications Inc., donated more than a third of his stake in the company, filings show.Yuan gifted almost 18 million shares of the conferencing-technology firm last week. The filings didn’t specify the recipient of the stock, which was owned by a Grantor Retained Annuity Trust, or GRAT, for which Yuan is a trustee.The shares were valued at about $6 billion, based on Friday’s closing price.The distributions are consistent with the Yuans’ “typical estate planning practices,” a Zoom spokesman said in a statement.Yuan, 51, joins other members of the world’s mega-rich who’ve been transferring stock recently -- including Hong Kong billionaire Li Ka-shing, who last month gave some of his Zoom holding to his businessman son Richard. Jeff Bezos, the world’s richest person, has been donating shares of Amazon.com Inc. in support of a $10 billion pledge made last year to combat climate change.Pandemic SurgeYuan became one of the world’s wealthiest people as demand for Zoom’s main product skyrocketed during the pandemic. The stock surged almost 400% last year, but has dipped 7.8% in 2021.He’s the world’s 130th-richest person with a pre-transfer net worth of $15.1 billion, according to the Bloomberg Billionaires Index, a $9.2 billion increase since last March. The company has also brought huge gains to other shareholders, including Tiger Global Management’s Chase Coleman and Taiwanese investor Samuel Chen. Li’s Zoom stake now represents almost one-fifth of his net worth. Born in China, Yuan was refused a U.S. visa eight times before finally prevailing and moving to Silicon Valley. An early employee of rival video-conferencing group WebEx Communications, he founded Zoom in 2011, inspired in part by the challenges of maintaining a long-distance relationship when he was in college.The Wall Street Journal reported the share transfer earlier Monday.(Adds that Li Ka-shing cut his Zoom holding in fifth paragraph, details about the stake in seventh)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.

  • The new stimulus checks: What's still ahead, before you can get your money?

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  • FX Weekly March 7

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  • U.S. Government to Sell 0.7501 Bitcoin Worth $38,000 at Current Prices

    (Bloomberg) -- Tucked away among the Ford, Dodge and Chevy sedans, the 12,000-gallon storage container and the inoperable Caterpillar tractor being auctioned off by the U.S. government is an unusual item: 0.7501 of a Bitcoin.The U.S. General Services Administration typically uses its auctions to sell surplus federal equipment to the general public. With lot 4KQSCI21105001, which goes up for auction in a week, the government is offering an amount of Bitcoin worth about $38,000 at Monday’s price.The government doesn’t say where its surplus digital currency came from. And while it’s a far cry from the 30,000 Bitcoins auctioned off by the U.S. Marshals Service in 2014 after they were seized from the Silk Road marketplace, the GSA auction is one more indication of how Bitcoin is becoming more and more mainstream.On Wall Street, too, there is a newfound openness to the world’s most valuable digital currency: Custody banking giant Bank of New York Mellon Corp. said it will hold, transfer and issue digital currencies, while Mastercard Inc. announced plans to let cardholders transact in certain cryptocurrencies on its network. A Morgan Stanley unit known for picking growth stocks is considering adding Bitcoin to its possible bets and, last week, a person close to Goldman Sachs Group Inc. said the bank plans to reopen a trading desk for cryptocurrencies.The Bitcoins auctioned off by the U.S. Marshals Service in 2014 were estimated at the time to be worth about $19 million, though the winning bid -- by venture capitalist Tim Draper -- wasn’t disclosed. Those coins would be worth $1.5 billion today as the cryptocurrency’s price has skyrocketed to almost $51,000.The GSA auction is scheduled to be held from March 15 to 17.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.

  • AMC Entertainment stock soars after price target doubled at Wedbush

    Shares of AMC Entertainment Holdings Inc. soared Monday, as the "meme" stock's bounce from last month's plunge continued, after Wedbush analyst Michael Pachter doubled his price target ahead of the company's earnings report, citing an increasing optimism over the post-pandemic environment.

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  • Tech stocks are under pressure. Don’t buy the dip, sell the bounces, strategist says

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  • These teens are having fun in today’s stock market, and, for the most part, making money — here are the secrets to their early success

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  • The FAANG stocks, in these uncertain times, are expected to rise as much as 35% over the next year

    On March 8, David Tepper, the founder of Appaloosa Management, said during an interview with Joe Kernen of CNBC that the rise in interest rates on 10-year U.S. Treasury notes (BX:TMUBMUSD10Y) to a yield of about 1.60% signaled that a major risk for U.S. bonds and stocks was “off the table.” Tepper, whose predictions are closely watched by Wall Street, went on to say that the expected $1.9 trillion government stimulus would be a near-term catalyst for stocks, pointing to Amazon.com Inc. (AMZN) as especially attractive. Amazon’s shares fell 8.5% for the three-week period through the close March 5.

  • AI Is Here; 3 ‘Strong Buy’ Stocks That Stand to Benefit

    Hi tech is the cool kid of investment sectors, offering an unbeatable combination of cutting edge chic and long-term stock market returns. It’s understandable; our digital world has clearly passed a point of no return in the integration of tech with our daily lives. Tech companies, whether large or small, are clearly in a position to gain from this trend, offering the products and innovations that will facilitate and expand the growth of our high-tech footprint. Artificial Intelligence, or AI, is at the forefront the tech wave. AI systems, which allow machines to learn from experience, adapt to change, and process more information faster than ever before, are powering the evolution of tech. New AI systems are making possible autonomous vehicles, personalizing sales and marketing, and speeding up the networked systems that hold the digital universe together. From an investor standpoint, the companies that are building and using AI systems now are in position for gains in the near future. AI is here, and it’s only going to expand its presence. With this in mind, we’ve opened up the TipRanks database to get the scoop on three "Strong Buy" stocks, according to the analyst community, which are making profitable use of AI technology, and jockeying for position out of the gate. iCAD, Inc. (ICAD) We’ll start in the medtech segment, where iCAD produces solutions, including advanced image analysis, radiation therapy, and workflow to facilitate early identification and treatments for cancer. iCAD offers a comprehensive platform of hardware and software. The company’s ProFound AI Risk tool is an integrated platform that streamlines the diagnosis and treatment of breast cancer; the VeraLook platform uses similar advanced technology to improve image processing in the detection of colon polyps. Medical technology is in high demand, and iCAD’s AI-powered platforms take common diagnostic tools and improve their accuracy. It’s part of a natural trend in medtech, of greater integration of tools and treatments. The field, like much of the medical industry, is growth, and iCAD reported $10.5 million in revenues for 4Q20, a sequential gain of 47%, which was powered by a 70% sequential gain in product revenue from ProFound AI. Year-over-year, quarterly revenue was up 11%, and the ProFound AI sales, in particular, gained 21%. Covering this stock for Oppenheimer, analyst Francois Brisebois sees ProFound AI as powerful gainer for the company. "We believe growth investors will be rewarded over the years as ICAD gains further share in a growing TAM by providing transformative AI-driven breast cancer detection products as well as targeted, efficient, cancer therapy solutions (quality over quantity). We believe ICAD represents an attractive vehicle for investors looking for exposure to biotech innovation themes and AI data growth waves. Ultimately, while ProFound AI Risk is in its very early stages of launch, we believe it represents a great example of AI's potential in changing treatment paradigms," Brisebois opined. Unsurprisingly, Brisebois rates ICAD an Outperform (i.e. Buy) along with a $27 price target. This figure implies a 63% one-year upside. (To watch Brisebois’ track record, click here) The unanimous Strong Buy consensus rating on ICAD shares shows that Wall Street is in broad agreement with Oppenheimer’s analyst; there are 7 Buy-side ratings on ICAD shares. The $21.57 average price target implies an upside of 30% from the $16.55 trading price. (See ICAD stock analysis on TipRanks) Baidu, Inc. (BIDU) Not every high-end AI stock is based in the US. Shifting our view to China, we’ll take a look at Baidu, the Asian giant’s largest search engine. In fact, Baidu is the largest internet search platform in the world’s largest language, used daily by well over 1.3 billion people. Baidu has a massive userbase, and just because Western and Chinese internet systems aren’t interconnected doesn’t mean that Western investors should overlook BIDU stock. Baidu’s gains are driven by a series of initiatives. The company benefits, like Google, from placing targeted ads on the search platform, ads that are powered by AI software. In addition, Baidu has been expanding the potentialities of its AI, moving into cloud computing and autonomous vehicles. In the past year, the company has even begun launching an autonomous vehicle system, the 14-passenger Apolong bus, in Guangzhou. In February, Baidu reported 4Q20 earnings and revenues, with slightly mixed results. The top line revenues came in at $4.6 billion, just below the forecast of $4.7 billion, but was still up 12% year-over-year; EPS on the other hand, at $3.08, slipped 25% yoy despite beating the forecast by over 10%. Among BIDU's bulls is Fawne Jiang, a 5-star analyst with Benchmark, who writes: “BIDU is making great strides monetizing new AI initiatives including smart transportation and intelligent driving, which should fuel the Company’s longer-term growth. We believe BIDU is well positioned to grow into a meaningfully expanded TAM capitalizing on growth opportunities in cloud, smart transportation, intelligent driving and other AI initiatives.” In line with these upbeat comments, Jiang rates BIDU as a Buy, and sets a $385 price target that indicates confidence in a 65% upside potential. (To watch Jiang’s track record, click here) With 14 recent Buy ratings, opposed to only 4 Holds, the BIDU shares have earned a Strong Buy from the analyst consensus. The stock is selling for $232.68, and its $343.44 average price target implies ~48% upside from that level. (See BIDU stock analysis on TipRanks) Five9 (FIVN) Let’s look into the cloud now, where Five9 offers a scalable contact center platform using an AI cloud technology. Contact centers have been a successful growth segment in the past couple of decades, and cloud computing has changed the way we use software. AI, by making computers smarter and data analysis faster, more efficient, and more accurate, has revolutionized both; contact centers using AI ‘smart’ clouds can track and route calls, process information, and direct callers and service agents to each other faster for better results. In 4Q20, the most recent reported, the company showed 39% year-over-year growth in revenue, to $127.9 million – a company record. EPS, however, was negative, with the loss hitting 11 cents per share. This was an unfortunate turnaround from the 1-cent EPS profit posted in the year-ago quarter. On a more positive note, the company finished 2020 with $67.3 million in operating cash flow, up 31% from the prior year. Also of interest to investors, Five9 on March 4 announced that it has been selected as the cloud computing vendor for CANCOM, a leading UK IT company. The partnership makes Five9 the platform that CANCOM will use to expand its call center services, and gives Five9 a strong foothold in the European market. Weighing in for Craig-Hallum, 5-star analyst Jeff Van Rhee noted, “Digital transformations have been kicked into high gear by COVID and the genie is not going back in the bottle. In addition, FIVN has been very aggressive over the past few years moving to public cloud for the entire stack and layering in outstanding AI capabilities. Demand for AI was noted to be playing an extremely important role in many of the largest deals… there’s little doubt about the momentum, performance, and remaining opportunity for FIVN.” Van Rhee puts a Buy rating on the stock, along with a $215 price target implying a 40% one-year upside. (To watch Van Rhee’s track record, click here) Once again, we are looking at a Strong Buy stock. The analyst consensus rating here is based on 17 recent reviews, including 15 Buys and 2 Holds. Shares are trading for $153.81 and have a $202.31 average price target, making the 12-month upside ~32%. (See FIVN stock analysis on TipRanks) To find good ideas for AI stocks trading at attractive valuations, visit TipRanks’ Best Stocks to Buy, a newly launched tool that unites all of TipRanks’ equity insights. Disclaimer: The opinions expressed in this article are solely those of the featured analysts. The content is intended to be used for informational purposes only. It is very important to do your own analysis before making any investment.

  • China’s Yuan Becomes Latest Victim of Treasury-Led Selloff

    (Bloomberg) -- The Chinese yuan erased all its gains against the dollar this year, the latest to fall prey to the Treasury-led global market selloff.The onshore yuan weakened as much as 0.5%, falling past the 6.5283 per dollar level it closed at last year. At its January peak, it was up 1.6% from 2020 as the economy rebounded and investors poured money into the Chinese bond market.Optimism over a global recovery from the pandemic has morphed into concerns that central banks will withdraw stimulus quicker-than-expected, leading to higher bond yields. This latest bout of market selling was spurred by the U.S. stimulus package and better Chinese exports data.“Surging U.S. Treasury yields and a USD rebound are pressuring EM Asia currencies including the renminbi,” said Ken Cheung, chief Asia currency strategist at Mizuho Bank Ltd in Hong Kong. “Foreign investors may have started to trim their emerging-market asset exposure and repatriate capital back into dollars. We turn more cautious on the CNY outlook in the near term.”Monday’s rout across markets picked up pace as Treasury 10-year yields hit 1.61%, nearing Friday’s high. A Bloomberg gauge of the dollar’s strength gained as much as 0.5% to its highest in almost four months.Trading volumes for onshore yuan rose to $48.9 billion on Monday, the highest level in over two months. Some bank clients who were previously hoarding dollars were selling off positions at higher prices, according to China-based traders, who asked not to be identified as they’re not authorized to speak publicly.The traders added they also received a higher volume of requests for forward prices on the greenback, including from clients who had just signed import orders and were looking to lock in foreign-exchange rates to guard against further yuan depreciation risks.China’s main stock benchmark entered a correction on Monday, with concerns over liquidity conditions and lofty valuations in some stocks fueling bearish sentiment.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.