Animal Spirits and the Doomsday Clock are on a Collision Course-Insider Buying Week 1-27-23
Not one of the many podcasts and pundits I listen to predicted a rally of 16% magnitude since the October lows. The January rally to date has been raw animal spirts. Obviously, this can’t keep going with the Fed dangling 5% risk-free returns out there. Insider buying is incredibly scarce, even considering the seasonal effects of quarterly earnings blackouts. This is what interested me last week in the thinly populated world of insider buying. The most exciting event is the new bubble forming around AI, capped off by Microsoft’s $10 billion in investment in OpenAi’s and their overnight ubiquitous quantum … Read more