🗞️ The Wrap: America’s Pastime
We’re thinking of all Australia’s lost millionaires this week, buying a stake in the Yankees and taking a glance at one of the Best Buys in months. Plus, a great podcast for your commute into work today! Oh, update your app too!
5 stocks making 52 week highs
- Seattle Genetics (SGEN) +21.0%
- Tech Data Corp. (TECD) +13.3%
- Arrowhead Pharma (ARWR) +12.9%
- PDF Solutions (PDFS) +11.8%
- Boise Cascade (BCC) +10.9%
7 to 6
No country lost more millionaires in the past year than Australia. 124,000 millionaires saw their fortunes drop into the six-figure range largely due to a weakening Aussie dollar and falling property prices; foreign investment values fell as did our number one on-shore investment. The USA, Japan and China added almost a million millionaires between them.
What constitutes a millionaire to begin with? Those whose assets are valued at over US$1m after accounting for debt. Essentially anyone who owns their own home outright can be considered a millionaire but probably don’t feel like it. The definition does not account for those who may be asset rich but cash poor.
America’s Pastime
There may soon be a market specifically for shares in professional sporting organisations. Wake up owning the Red Sox, go to bed as a Lakers shareholder. Ok, this may be deep into the future but the first steps towards making it a reality are being happening now.
The MLB is relaxing ownership regulations and allowing investment funds to purchase minority ownership in these multi-billion dollar sporting organisations (the average team is worth US$1.8b).
From there a secondary market may develop allowing everyday traders to get their hands on shares in teams. We may even see ETFs with these ownership stakes as underlying assets.
For those too keen to wait, Manchester United (MANU) is already on the market.
Most traded small caps on Stake
Time for a change
We sent an email out yesterday (twice actually…sorry) about our new app. For those who didn’t read it, here’s a reminder to head straight to the App or Play Store and update! After playing around on it myself, I really believe it’s our best update yet. For more on what’s actually changed, check out this piece of our Head of UX & Design, Marc, wrote.
Top 5 gainers
- PetMed Inc (PETS) +38.8% in the last week
- Dermira (DERM) +34.6%
- Mallinckrodt Public Ltd (MNK) +27.7%
- Houghton Mifflin Harcourt (HMHC) +26.4%
- Biogen (BIIB) +23.8%
Top 5 fallers
- Pareteum Corp (TEUM) -34.0% in the last week
- TransEnterix (TRXC) -30.3%
- McDermott Intl (MDR) -24.7%
- Hexindai (HX) -23.7%
- Hasbro (HAS) -18.0%
What we’re listening to | We Study Billionaires
Few podcasts have the diversity of experts that this nugget of wisdom does. While the investing
and trading interviews they put together are great, I really like the breadth of topics from real estate investing to macro level economic trends or even investing in fine art.
I particularly enjoy the portfolio management episodes. There’s a huge emphasis on stock picking, be it through technical or fundamental analysis, but a higher level analysis of how to effectively manage multiple stocks doesn’t get the emphasis it deserves especially amongst beginner traders.
I guarantee there’s an episode that will interest you. Have a look for yourself here.
Trader teaser
How can you add eight 8s to get 1000? You may only use addition.
Best Buy | Nordic American Tankers (NAT) +91%
NAT. This trade is an absolute beauty. A Weinstein classic. Tankers have been flying recently (definitely not living up to their name) and this trader jumped on the passing ship. Beautiful volume accumulation, breaking into recent highs from a low base; all the makings of an 81% gain.
