Daily Insider: Hope emerges for losers as Wall Street set to end worst half year since 1970

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As Wall Street heads for worst first half year since 1970, hope springs

In December last year, we launched a model portfolio for BizNews community members focusing on companies with exponential growth prospects. The timing was terrible. The Nasdaq Index, home to most of these rapidly-expanding businesses, touched 16 000 that month. It’s now below 11 200, down a third. That’s historic. US markets are about to record their worst first half of any year since 1972.  

We included six “wild cards” in the portfolio – higher risk tech stocks chosen specifically for the possibility that they would deliver a welcome surprise. That’s a great strategy in Bull Markets – not so pleasant when the trend reverses. These ‘high beta’ stocks as the pros call them, have fallen even more sharply in price than the stock market as a whole.

But hope springs. It is a five year project so the portfolio has plenty of time to recover. Also, surprisingly given the overall trend, two of those wild cards are delivering. Three months ago, the world’s richest man, Elon Musk, offered $54.20 a share for Twitter, pushing the price above our entry level, enabling us to sell at a tidy profit. the company. 

Yesterday, 2U shares got a similar kicker after Bloomberg reported Indian online education group Byju is about to table a cash offer of $15 a share. 2U shares jumped 17% and should the offer transpire, we’ll make a profit as our entry price was $13.77. Provided you have a plan, investment markets are always capable of delivering a welcome surprise. Even during the darkest days. 


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LISTEN: The full interview. Ocean Basket CEO, Grace Harding and award-winning restauranteur, Forti Mazzone had a frank chat with Alec about the struggles facing the restaurant industry. While the topic is serious, the guests are charming and fun, showing commitment and resilience in the face of continuous hurdles. 
WATCH: Sean Peche shares his value investor perspective on why his picks are outperforming – and will continue to do so 

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