Welcome to squawk alley. The founder of aol ventures is with us. John, its good to have you back. Jon fortt is out today but Kayla Tausche is here. The dow is down about triple digits. A few select companies are driving whatever gains we have in the nasdaq composite this year. Six companies, amazon, google, apple and gillian account for more than half of the 64 billion in value added to the nasdaq composite in 2015. The concentrated gain in a few stocks is boosting concerns of dwindling leadership, a market top, some say. The nasdaq itself is up about 7 so far this year. And i think if you take out amazon and google, john, even the s p is negative year to date. People say classic sign of an aging bull market. Is that legit . Certainly a ton of consolidation and thats reason for concern in a business that is concerned. Youd rather have more diversification of broadening. Im not sure if its a causation or a warning sign. Im not ready to show impending doom yet. Jim cramer, of course, coi
“I would stick with L&T, ABB, and Cummins. These three are the best among the capex stocks. There the managements have indicated that they are on the roll. They do not need capital as such and I think that these are the bellwethers you should own to ride this market.”
“Today is a perfect occasion to catch the bears on the wrong side. I would say that this is just the start. I had told you 19,700 is coming within a few days of Diwali. 20,000 will be here by the end of this month. If I could bet on something, it would be the Bank Nifty”
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NEW DELHI: Smallcap- and multicap-oriented PMS (portfolio management service) funds, an investment tool of rich investors, outperformed in April and delivered up to 14 per cent returns to clients.
Top guns of the PMS industry also delivered handsome returns for the month. Domestic equity benchmark Sensex fell 1.5 per cent for the month, while Nifty shed 0.4 per cent.
Kotak AMC Pharma Fund finished as the top performer of the month, returning 13.39 per cent, according to data provided by PMSBazaar.
Sun Pharma, Dr Reddy’s Labs, Cipla,
Cadila Healthcare and Aurobindo Pharma were the top five holdings in its portfolio.
Sectoral bets, especially metals, pharma and IT, have been proving to be beneficial for fund managers in the past couple of months, as the Covid-19 pandemic intensified and commodity prices rose.
As ARK readies itself for what could be another tumultuous day on Tuesday, with the firm s assets dropping below $20 billion to their lowest level since January, more eyes are turning to how Cathie Wood is steering her firm through the rough seas .Â
ARK s flagship fund was down another 5% in pre-market trading on Tuesday falling below the psychological level of $100 per share and has fallen for 9 of the past 10 sessions, according to Bloomberg, who noted that the decline accelerated on Monday in the biggest slide in about seven weeks .
At this point, the chicken and the egg argument between ARKK, shares of its components - notably heavily held (and potentially extremely overvalued) names like Tesla and Palantir - and the indicies where its components reside, becomes meaningful conversation and not just fodder.Â