The Insiders Fund Not So Daily Digest

Insider Buying 03-07-25 Chaos-2.0 Treasure Hunt Continues

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CHAOS 2.0 unfolds as expected with a sharp drop in interest rates as market participants pivot from worrying about inflation to crumbling public sentiment and the likelihood of rising unemployment numbers.  February employment numbers failed to assuage the sense that the U.S. economy is about to rollover as an inconsistent implementation of tariffs, pall-knell like approach to trimming Government fat, and a clear failure to lead the electorate has created a witch’s pot of discontent.  Stocks are predictably down, the only question being is this a trend or a bottom. The jury is still out on that. As for me, … Read more

Insider Buying 02-28-25 Be Fearful When Others Are Greedy and Greedy When Others Are Fearful

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CHAOS 2.0 unfolds as expected with a sharp drop in interest rates as market participants pivot from worrying about inflation to crumbling public sentiment and the likelihood of rising unemployment numbers.  The Atlanta Federal Reserve is projecting a contraction of the nation’s gross domestic product (GDP) of 1.5 percent in the first quarter, flashing a warning sign for the U.S. economy. The projection is a significant shift for the Atlanta Fed over the last few weeks that comes a little more than a month after President Trump took office. The Atlanta Fed last week was predicting 2.3 percent positive growth … Read more

Insider Buying 02-21-25 Welcome to Chaos 2.0

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I refer to the first Trump administration as Chaos 1.0.  Many good things can come from disruption but generally the markets like predictability and order. It was only a worldwide pandemic that upstaged the near constant firing and turnover in the Administration.   It was the real-world political version of the popular reality TV show, The Apprentice.  According to the Brookings Institute, Trump’s A team turnover from year to year was 92%, far higher than any of the last six Presidents. Now what will be next? Worldwide war and the collapse of the post-World War II order?  Or as Donald Trump … Read more

Insider Buying 02-14-25 Buyers Coming Back as Blackout Abates and Uncertainty Rocks Stocks

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As Q4 earnings announcements start to wind down, we would expect to see a pickup in insider activity. We are seeing that, particularly in sectors that have sold off in anticipation of possible Trump regulatory changes that would make business more challenging and potentially less profitable. Of course, no one really knows for certain about any of this as Trump has shown a great propensity to say one thing and actually do another.  He may be bluffing, posturing or may change his mind. It’s very unpredictable but you have to assume when insiders buy into this, they are considering this, … Read more

Insider Buying 02-07-25 The Frenzy Underneath Continues

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Screw theVIX, its become irrelvant until it doesn’. and it certainly doesn’t seem to matter now.The market did not look pretty last week, and Friday’s consumer sentiment confirmed it.  People poll and say that want change but they don’t seem to want change fast. That’s why companies staying private r have more freedom to enact bold management, strategic, or financial maneuvers.  We already know that markets don’t like uncertainty. Why should we think consumers want anything different? Name: Inge G Thulin Position: Director Transaction Date: 2-06-2025 Shares Bought: 2,833 shares an Average Price Paid of $88.25 for Cost: $250,000 Name: … Read more

‘t short Nvidia

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The market had it’s fugazi moment last week, when the world in one resounding mini crash concluded Nvidia might have limits on its unfettered growth and reign supreme. Skepticism is healthy. Analysts have been talking about the different needs of AI from training to inference but suddenly an open source research paper and LLM model named Deep Seek upended the entire AI industry. A Chinese hedge fund named High Flyer created it.  Boy, did they even nail that name.  You just have to wonder was this a giant short by High Flyer. If so, it was probably the best trade … Read more

Insider Buying 01-24-25 Contrarian Investors Pay Attention

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The market made new highs last week. The NFIB Small Business Optimism Index rose by 3.4 points in December to 105.1, the second consecutive month above the 51-year average of 98 and the highest reading since October 2018.  Trump has promised to fix everything that is wrong with this country, bring down interest rates, lower the price of gasoline, and tame inflation all the while lowering taxes and government spending.  Hoorah! like the Marines say.  What’s there not to like?  Maybe corporate insiders are just a we bit skeptical.  Combined with 4th quarter earnings blackout- well, there just isn’t much to … Read more

Insider Buying 01-17-25

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Not much going on- seems like the calm before the storm. Buy gold, the yellow stuff not the digital Bitcoin. Name: William R Shepard Position: Director Transaction Date: 2025-01-16 Shares Bought: 1,429 Average Price Paid: $227.96 Cost: $325,798 Company: CME Group INC. (CME) CME Group allows clients to trade futures, options, cash, and over-the-counter products, optimize portfolios, and analyze data, empowering market participants worldwide to manage risk and capitalize on opportunities. CME Group offers primary price discovery and referential pricing information to customers in a range of formats, including real-time, historical, and derived data for listed and cash products. CME … Read more

Insider Buying 01-10-25 Buy Gold

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Not much going on- seems like the calm before the storm. Buy gold, the yellow stuff not the digital Bitcoin. Name: Alexander Merk Position: COO Transaction Date: 2025-01-03 Shares Bought: 30,825 Average Price Paid: $20.98 Cost: $646,684 Transaction Date: 2025-01-06 Shares Bought: 33,774 Average Price Paid: $21.06 Cost: $711,250 Company: ASA Gold & Precious Metals Ltd (ASA) ASA Gold and Precious Metals Limited is a publicly held investment manager. The firm invests in public equities markets around the globe. It primarily invests in equities of companies that explore, mine, or process gold, silver, platinum, diamonds, and other precious minerals. It … Read more

Insider Buying 01-03-25

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Christmas and Hanukkah falling on the same day can be seen as a fleeting symbol of unity and peace—or simply a coincidence between the Gregorian and lunar calendars.   Name: John W Childs Position: Director Transaction Date: 2024-12-30 Shares Bought: 29,000 Average Price Paid: $35.94 Cost: $1,042,393 Company: Biohaven Ltd. (BHVN) Biohaven is a biopharmaceutical firm dedicated to researching, developing, and commercializing life-changing therapies in critical therapeutic areas such as immunology, neuroscience, and oncology. The company is expanding its novel range of pharmaceuticals by leveraging proven drug development capabilities and numerous patented drug development platforms. The extensive clinical and preclinical … Read more

Insider Buying 12-27-24 Christmas and Hanukkah falling on the same day can be seen as a fleeting symbol of unity and peace

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Christmas and Hanukkah falling on the same day can be seen as a fleeting symbol of unity and peace—or simply a coincidence between the Gregorian and lunar calendars. This holiday week is expected to be quiet, yet there’s an underlying sense of caution: even a brief lapse in attention could prove risky, whether markets surge upward or tumble downward. Volatility is on the rise, and as the Trump inauguration approaches, it seems increasingly likely that there has been a fundamental misinterpretation of the so-called “mandate” from the American people. The coming days promise turbulence—brace yourself, because the ride could get … Read more

Insider Buying 12-20-24 Fill up the Tank Volatility Right On Cue

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Its been a stunning collapse of the premier oil and gas companies stock prices since Trump’s election. You would think that an industry so overwhelmingly Republican and a President so enamored with drilling for oil would be a combustible combination . It’s just the opposite. It’s hard to believe that history can repeat itself right on cue as energy stocks were the laggards of the last Trump administration. With EV investment tax credits likely to disappear, with a President whose platform is “drill baby drill” you would think there would be at least some Holiday Season joy in the oil … Read more

Insider Buying Week 12-13-24 When does the Hammer Come Down?

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I’d like to say I saw something last week that was sexy and showed a lot of potential.   Maybe I’m missing it and its staring right at you but you have to rely on more than insider buying to validate your purchase. I said that to myself and despite that I bought the management line that Dave and Busters didn’t need revenue growth but could rely on more efficient operations. Then the CEO quits two months later for a better job? Class action attorneys, you can include me on your mailer. Market momentum stalled last week. The 10-year Treasury sold … Read more

Insider Buying Week 12-07-24

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How long can the Trump stock market honeymoon go on? Of course no one knows the answer to that.  Anyone who thinks they do is self delusional at best or a charlatan at worst. Name: Jeffrey C Campbell Position: Director Transaction Date: 2024-12-04 Shares Bought: 6,000 Average Price Paid: $149.61 Cost: $897,644 Company: Marathon Petroleum Corp (MPC) MPC has over 135 years of experience in the energy industry and is a leading integrated downstream energy firm. The company is a major wholesale supplier of gasoline and distillates to resellers in the United States. The company transports refined products via one … Read more

Insider Buying Week 11-29-24 How Long Can the Honeymoon Last?

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How long can the Trump stock market honeymoon go on? Of course no one knows the answer to that.  Anyone who thinks they do is self delusional at best or a charlatan at worst.  I did pick up a bit of Truist. It hasn’t ramped like the other names on this week’s list of notable insider buys with the exception of Valvoline.  I just can’t bring myself to the table on  VVV.  I was surprised to find that even EVs use oil. Someone shared a story about their Tesla Cyber Truck leaking oil and the horrendous customer support.  The pace … Read more

Insider Buying Week 11-22-24 Insiders buying Solar and Bitcoin is in Beast Mode

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Markets are always a choice between assets, bonds, stocks, gold, and now Bitcoin. Momentum and perception are key market factors, and have always been that way. Insider buying is now on everyone’s radar, and the small investor is paying attention. The Trump administration is even more opaque than ever, and solar energy may have to take a back seat to fossil fuels. But not this week, as Sunova insiders scored a 37% paper profit, Wolfspeed scored ~24% returns, Ameresco, and even Enphase rebounded 7%. Name: Badrinarayanan Kothandaraman Position: President & CEO Transaction Date: 2024-11-19 Shares Bought: 5,000 Average Price Paid: … Read more

Insider Buying Week 11-15-24- Animal Spirits are Back!

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After weeks of nonexistent insider buying, other than hedge funds which I generally dismiss as informed but not that meaningful OPM other people’s money, insiders have come back with a vengeance.  Some likely unleashed by Trump’s change of regime optimism, while others were likely motivated as the market prematurely selected winners and losers. Centene insiders began buying shares shortly after the election results raised concerns about government funding for healthcare. Enphase, already struggling, faced further declines as solar energy incentives came into question. Meanwhile, semiconductor stocks, with the sole exception of Nvidia, are dropping sharply due to the potential reintroduction … Read more

Insider Buying Week 11-08-24

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We are in a malaise. It’s that period when most insiders are restricted from trading in their company’s stock due to the upcoming quarterly earnings. But let’s not kid ourselves. Name: Abhijit Y Talwalkar Position: Director Transaction Date: 2024-11-04 Shares Bought: 6,664 Average Price Paid: $75.16 Cost: $500,866 Company: iRhythm Technologies Inc. (IRTC) iRhythm Technologies, Inc., founded in 2006, is headquartered in San Francisco, California. iRhythm Technologies, Inc. is a digital healthcare firm that designs, develops, and commercializes device-based technologies for ambulatory cardiac monitoring and arrhythmia diagnosis in the United States. It provides Zio services, which are ambulatory monitoring solutions … Read more

Insider Buying Week 11-01-24

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We are in a malaise. It’s that period when most insiders are restricted from trading in their company’s stock due to the upcoming quarterly earnings. But let’s not kid ourselves. If you want to sell, there is a way. You can fire up the ole 10B-5 1 get out of jail plan and fire away. Paying close attention to what insiders do with their money has historically been a successful investment method. However, it doesn’t always outperform the market, but it does keep exuberance in check when herd behavior runs markets higher than good economic sense should dictate. With that … Read more

‘t Any

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Three weeks with almost no insider buying of any note to reports. We ignore the purchases of hedge funds as they may be investing primarily with other people’s money. Instead, we concentrate on officers and directors of a company who spend what we think are respectable amounts of money, not likely to be window dressing. Like everything thing in investing, this is not a firm rule. Investors rarely ignored Warren Buffett’s Berkshire Hathaway, Bill Ackman, or other legendary hedge fund investors. This week, we highlight one new buy and three names we have previously written about. Name: Chun R Ding … Read more

Insider Buying Week 10-18-24

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As I wrote last week, nothing fazes this market’s relentless path higher—not higher rates, not even a sharp jump in oil prices. An Israeli retribution strike against Iranian oil facilities hangs like the sword of Damocles, ready to decapitate the entire bull run. Even a moderate oil price lift helped the beleaguered oil and gas patch, providing more fuel for the fire. Name: Liberty 77 Capital L.P. / Liberty 77 Fund International L.P. / STM Partners LLC / Steven T Mnuchin Position: 10% Owner Transaction Date: 2024-10-10 Shares Bought: 816,424 Average Price Paid: $6.73 Cost: $5,495,125 Company: Lions Gate Entertainment … Read more

Insider Buying Week 10-04-24 The Calm before the Desert Storm

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As I wrote last week, nothing fazes this market’s relentless path higher—not higher rates, not even a sharp jump in oil prices. An Israeli retribution strike against Iranian oil facilities hangs like the sword of Damocles, ready to decapitate the entire bull run. Even a moderate oil price lift helped the beleaguered oil and gas patch, providing more fuel for the fire. The market hasn’t priced in a full-scale Israeli-Iranian war, with Israel taking out significant Iranian oil assets. Please don’t believe the Israelis are dependent on world opinion or that they are waiting for Joe Biden, their puppet master. It’s … Read more

Insider Buying Week 09-27-24 Is Inhibrx Biosciences another Biohaven? Insiders Seem to think so

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The bulletproof market stumbles on; not escalating war in the Middle East or a tumultuous Presidential election in the U.S. seems to faze it. Insiders are mainly sitting this one out, whether it’s the priciness of the market or the quarterly earnings blackout window; insiders are on the sidelines except when it comes to selling. They are hitting the bid like trout on a hatchery pond. Notable sales alone last week included Draft King, Banc of America (Berkshire unloading), Carvana, Seagate Technology, Toll Brothers, and that was just what was reported on Friday last week.  It’s hard to glean much … Read more

Insider Buying Week 09-20-24 Interest Rates are Finally Headed Lower

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The Federal Reserve surprised the pundits, slashing 50 basis points instead of 25.  Some may think this extraordinarily large cut in interest rates may have had something to do with election-year politics. I don’t know why. Donald Trump hired Powel and was almost sure to fire him or not put him up for renewal if he didn’t lower rates. Now, if elected, he is sure to fire Powell as he is likely to blame him for helping  Harris. Of course, no commentators will say this, but this is likely what happened and almost certainly what will happen if Trump gets … Read more

Insider Buying Week 09-13-24 Stock Merry Go Round

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The stock market had its best week since November 2023, immediately after its worst week of the year. The market is now spitting distance from where it ended the month of August.  Lately, the market has been on a merry-go-round. Trading is killing buy-and-hold, but one week, two weeks, or even two years doesn’t make great hedge fund managers or investors wizards. It’s fun when you win, and it beats watching network TV in a swing state these days. They said it all comes down to the 500,000 undecided voters in the seven states that will determine the Presidential election … Read more

Spooky September Crushes the Market Insider Buying Week 09-06-24

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So far, September is living up to its reputation as the cruelest month in the market, and it’s just week one.  The S&P 500 ended the week down 4 out of five days for the worst week since March 2023, the week Silicon Valley Bank collapsed. If you remember, the regional banking market was holding on by a thread until the Federal Reserve and Treasury changed the rules. It allowed banks unfettered liquidity, staving off a run on the entire banking industry, which would have forced many banks to take actual marks on their long-duration, underwater government bonds. That would … Read more

Insider Buying Week 08-30-24 A Return Visit to Inhibrx Biosciences

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Insiders buy their stock when they think it’s cheap or sometimes when they want to keep their jobs. The investor must figure out that difference.  There are a few names I’d venture to short on this list if the Vig is not too high.  There are a few names that offer compelling narratives, if not fundamentals.  You can be an insider, too– by clicking here   Name: Gary L Hinkle Position: Director Transaction Date: 2024-08-23 Shares Bought: 5,000 Average Price Paid: $68.09 Cost: $340,450 Company: Burke & Herbert Financial Services Corp. (BHRB) Burke & Herbert Financial Services Corporation was formed … Read more

Insider Buying Week 08-23-24- They are Back

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The treasure hunt continues.  Will insiders provide any clues for that nugget of gold in the tailings of a well-picked over-market?  There are a few notable buys, insiders coming back to purchase more in stocks that seem hard to rationalize why.  This week, we take a deeper dive into those repeat buyers keeping in mind that the most notable thing is that they are back.    You can be an insider, too– by clicking here   Name: C Raymond Jr Larkin Position: Director Transaction Date: 2024-08-15 Shares Bought: 6,500 Average Price Paid: $235.33 Cost: $1,529,645 Company: Align Technology Inc (ALGN) … Read more

Insider Buying Week 08-16-24 Party On!

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The market just posted its best week of the year as investors seemed to grasp that the Federal Reserve’s known rate cuts trumped the unknowns from either Presidential candidate, plus whatever Iran had in mind as payback would not be sufficient to risk the devastation wrought by an Israeli strike bolstered by the U.S. Defense Department. Party on! We have also tracked a noticeable pickup in insider buying, mostly in obscure names but something is better than nothing. This weeks highlights include: Name: Thomas C ERB Position: Director Transaction Date: 2024-08-13 Shares Bought: 2,000 Average Price Paid: $112.94 Cost: $225,880 … Read more

Insider Buying Week 08-09-24

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Someone wrote last week that the situation in the market was ripe for a crash, reminiscent of the Crash of 1987. I lived through that, so I have some personal observations. Name: Thomas Arthur Bell Position: CEO Transaction Date: 2024-08-01 Shares Bought: 1,712 Average Price Paid: $145.04 Cost: $248,305 Company: Leidos Holdings Inc. (LDOS) Leidos Holdings, Inc. was founded in 1969 and has its headquarters in Reston, Virginia. Leidos Holdings, Inc. and its subsidiaries offer services and solutions in the defense, intelligence, civil, and health markets in the United States and abroad. The company’s segments include Defense Solutions, Civil, and … Read more