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 for the first quarter. A month ago, it was registering 3.9 percent growth.
Volatility is rising as I predicted. Warren Buffet said, “Be Fearful When Others Are Greedy and Greedy When Others Are Fearful”.
BUT THAT WAS BEFORE CHAOS 2.0
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Name: Henry A Fernandez
Position: Chairman and CEO
Transaction Date: 02-24-2025 Shares Bought: 5,300 shares an Average Price Paid of $574.51 for Cost: $3,044,902
Company: MSCI Inc. (MSCI):
MSCI Inc. is a leading provider of critical decision support tools and solutions for the global investment community, offering mission-critical services that help investors navigate the complexities of an evolving financial landscape. With deep expertise in the global investment process and proficiency in research, data, and technology, MSCI enables clients to analyze key risk and return drivers and construct more effective portfolios. The company has a strong understanding of client needs, challenges, and goals, enabling proactive responses to industry trends. Committed to an integrated approach, service excellence, and innovative research, MSCI ensures its solutions remain accessible through flexible, cutting-edge technology.
Henry A. Fernandez has served as a director and Chairman of the Board since November 2007 and as Chief Executive Officer since 1998. He held the position of President from 1998 until 2017. Before leading MSCI’s transformation into a fully independent, publicly traded company in 2007, he was a Managing Director at Morgan Stanley, where he focused on emerging markets product strategy, equity derivative sales and trading, mergers and acquisitions, global corporate finance, and mortgage finance for U.S. financial institutions. His tenure at Morgan Stanley spanned from 1983 to 1991 and again from 1994 to 2007. He holds a Bachelor of Arts in Economics from Georgetown University, an MBA from Stanford University’s Graduate School of Business, and a doctorate in Economics from Princeton University.
Opinion: Monopolies are good. Every business should strive to be a monopoly as their operating principal goal. Very few will even get close so those that didn’t are rare and special. MSCI indices are industry standards.
- Institutional investors rely on MSCI indexes for benchmarking and ETF creation. Once funds, investment mandates, and contracts are built around MSCI indexes, switching to another provider is costly and disruptive.
- Risk analytics and ESG data are deeply embedded into client workflows, making switching cumbersome.
Name: Anders Gustafsson
Position: Director
Transaction Date: 02-24-2025 Shares Bought: 3,227 shares an Average Price Paid of $309.96 for Cost: $1,000,243
Company: Zebra Technologies Corp.(ZBRA):
A global leader in the Automatic Identification and Data Capture industry, the company operates within a market that includes mobile computing, data capture, radio frequency identification devices, thermal barcode printing, and other workflow automation products and services. Its products, services, and software solutions enable customers and end-users to digitize and automate workflows, helping to achieve critical business objectives such as enhanced productivity, improved operational efficiency, optimized regulatory compliance, and superior customer experiences. Additionally, it provides machine vision and robotics automation solutions, along with a full suite of services, including maintenance, technical support, and repair.
Anders Gustafsson is the Chair of the Board and previously served as Zebra’s Chief Executive Officer and a director from 2007 to March 2023. Before joining Zebra, he was the Chief Executive Officer of Spirent Communications plc, a publicly traded telecommunications company, from 2004 to 2007. At Spirent, he redefined the company’s growth strategy, divested non-core operations, integrated past acquisitions, and streamlined the organization to achieve significant cost savings. Earlier in his career, he held executive positions at Tellabs, Inc. and Motorola, Inc. He serves as a trustee of the Shedd Aquarium and is a member of the Civic Committee of the Commercial Club of Chicago. Gustafsson holds an MBA from the Harvard Graduate School of Business and a Master of Science degree in Electrical Engineering from Chalmers University of Technology in Gothenburg, Sweden.
Opinion: Stripes fell off the Zebra? We visited this Company before in our blog in August 2023.
It was around $258 then and on its way to a high of $420 before the wheels came off. Zebra reported a decent Q4, beating both revenue and EPS estimates but as usual it was the guide. They remained cautious as “customers navigate an uncertain environment including a dynamic global trade, geopolitical, and macro-economic backdrop. We remain well positioned to drive sustainable profitable growth while extending our lead in the industry” Code for Chaos 2.0 but we’ll get through it better than most. I would agree with that. Missed that one as it closed Friday at $312.
Name: John K Welch
Position: Director
Transaction Date: 02-26-2025 Shares Bought: 1,000 shares an Average Price Paid of $174.92 for Cost: $174,924
Company: Huntington Ingalls Industries Inc. (HII):
Huntington Ingalls Industries, Inc. is a global defense partner specializing in the development and delivery of advanced naval ships and technology across maritime, aerospace, land, space, and cyber domains. For over a century, the Ingalls Shipbuilding division in Mississippi and the Newport News Shipbuilding division in Virginia have built more ships across multiple classes than any other U.S. Navy contractor, establishing Huntington Ingalls as the largest shipbuilder in the United States. A significant portion of its business is conducted with the U.S. government, particularly the Department of Defense.
John K. Welch has served as a director of Huntington Ingalls Industries Inc. since March 2015. He is the retiring president and CEO of Centrus Energy Corp. Before joining Centrus, he held executive leadership roles at General Dynamics Corp., retiring in 2003 as executive vice president of the Marine Systems Group, which included Bath Iron Works, Electric Boat, and National Steel and Shipbuilding Company. Welch earned a bachelor’s degree in aeronautical engineering from the United States Naval Academy and served for seven years as a nuclear submarine officer before retiring from the Naval Reserve. He also holds a master’s degree in aeronautical engineering from the Naval Postgraduate School and an MBA from Loyola College.
Opinion: We own a little of this company. They build the U.S. Navy. I don’t think when push comes to shove, Trump cuts military spending on vital armament programs like nuclear subs, but then again, I know nothing. He might.
Name: Gregory G. Joseph
Position: Director
Transaction Date: 02-20-2025 Shares Bought: 3,000 shares an Average Price Paid of $121 for Cost: $362,986
Company: American Financial Group Inc. (AFG):
American Financial Group, Inc. is an insurance holding company operating through Great American Insurance Group, specializing in property and casualty insurance with a focus on tailored commercial products for businesses. An in-house team of investment professionals manages the company’s investment portfolio. The Great American Insurance Group has been in business for over 150 years. In 2024, more than 55% of gross written premiums in the Specialty Property and Casualty segment were generated by businesses ranking among the top 10 competitors based on gross written premiums.
Gregory G. Joseph was elected to the Board of Directors of American Financial Group, Inc. at the 2008 annual meeting of shareholders. He serves as Chairman of the Audit Committee and Lead Independent Director. Joseph is Executive Vice President, an attorney, and a principal of multiple independently owned automotive dealerships collectively known as Joseph Automotive, primarily based in Greater Cincinnati, Ohio. Until May 2008, he was the lead director of Infinity Property & Casualty Corporation, an insurance company specializing in personal automobile insurance. Since 2005, he has been a member of the Board of Trustees of Xavier University and serves on its Audit Committee. Xavier University is a private institution located in Cincinnati, Ohio.
Opinion: Don’t, like insurance, nope.
Name: Philip G Brace
Position: CEO and President
Transaction Date: 02-25-2025 Shares Bought: 10,000 shares an Average Price Paid of $66.13 for Cost: $661,300
Company: Skyworks Solutions Inc. (SWKS):
Skyworks Solutions, Inc. is a leading developer, manufacturer, and supplier of analog and mixed-signal semiconductor products and solutions for a broad range of applications, including aerospace, automotive, broadband, cellular, entertainment and gaming, industrial, medical, smartphones, tablets, and wearables. Over the past two decades, the company has made significant investments in key network technologies, such as cellular and advanced Wi-Fi, as well as enhanced GPS and Bluetooth. Through a combination of organic growth and strategic acquisitions, the company continues to expand into high-growth verticals while diversifying its revenue streams and client base.
Philip Brace has been appointed President and CEO of Skyworks Solutions Inc. and will also serve as a member of its Board of Directors, effective February 17, 2025. Since February 2024, he has held the role of Executive Chairman and Interim Principal Executive Officer at Inseego Corp., a position he maintained until January 2025. Prior to joining Inseego, he served as President and CEO of Sierra Wireless Inc. from July 2021 to January 2023, leading significant operational improvements. He holds a bachelor’s degree in applied science in computer engineering from the University of Waterloo and a master’s degree in electrical engineering from California State University, Sacramento.
Opinion: According to Post on the Fly, Argus downgraded Skyworks (SWKS) to Hold from Buy. Apple (AAPL) is by far Skyworks’s largest customer, at 69% of FY24revenue, but it will now dual-source a premier RF socket in the new upcoming iPhone 17 generation family that Skyworks had formerly sole-sourced, and Skyworks has recently revealed that it would lose 20%-25% content in the iPhone 17 launch due to launch in fall 2025, the analyst tells investors in a research note. Not a fan of customer concentration.
Name: Joseph Wm Foran
Position: Chairman and CEO
Transaction Date: 02-21-2025 Shares Bought: 6,000 shares an Average Price Paid of $53.94 for Cost: $323,640
Company: Matador Resources Co (MTDR):
Matador Resources Co. is an independent energy company engaged in the exploration, development, production, and acquisition of oil and natural gas resources in the United States, with a focus on oil and natural gas shale and other unconventional plays. Operations are primarily concentrated in the oil and liquids-rich portions of the Wolfcamp and Bone Spring plays in the Delaware Basin in Southeast New Mexico and West Texas. Additional operations are conducted in the Eagle Ford Shale play in South Texas and the Haynesville Shale and Cotton Valley plays in Northwest Louisiana. The company also carries out midstream operations to support exploration, development, and production activities, ensuring flow assurance. These midstream operations include natural gas processing, oil transportation, and the gathering and disposal of oil, natural gas, and produced water, with services also provided to third parties.
Mr.Foran founded Matador Resources Company in July 2003 and has served as Chairman of the Board and Chief Executive Officer since its inception. Until March 31, 2022, he also held the position of Secretary. In addition, he serves as Chair of the Board’s Executive Committee. Before that, he served as a briefing attorney for Chief Justice Joe R. Greenhill of the Supreme Court of Texas. Mr. Foran earned a Bachelor of Science degree in Accounting with highest honors from the University of Kentucky. He then obtained a law degree from the Southern Methodist University Dedman School of Law, where he was a Hatton W. Sumners Scholar and the Leading Articles Editor of the *Southwestern Law Review.* He also captained the rugby teams at both institutions. Additionally, he has taught Accounting and Business Law at Southern Methodist University and The University of Texas at Dallas.
Opinion: Looks like a duck, quacks like a duck, it’s an OIL and Gas company.
Name: Barton R. Brookman Jr
Position: Director
Transaction Date: 02-26-2025 Shares Bought: 7,000 shares an Average Price Paid of $32.36 for Cost: $226,520
Company: SM Energy Co (SM):
SM Energy Company is an independent energy company engaged in acquiring, exploring, developing, and producing oil, gas, and natural gas liquids in Texas. The company holds working interests in oil and gas-producing wells in the Midland Basin and South Texas. Formerly known as St. Mary Land & Exploration Company, it rebranded as SM Energy Company in May 2010. Founded in 1908, the company is headquartered in Denver, Colorado.
Barton R. Brookman Jr. has served as a director of SM Energy Company since February 2024. A former oil and gas executive, he spent over 18 years at PDC Energy, Inc., from 2005 to 2023. From January 2015 until the company’s acquisition by Chevron Corporation in August 2023, he held the roles of President and CEO. Mr. Brookman earned a Bachelor of Science in Petroleum Engineering from the Colorado School of Mines and a Master of Science in Finance from the University of Colorado at Denver.
Opinion: An another one with a similar chart pattern, one that longs don’t like. Owning oil stocks have been painful. Nuclear energy has been hot. Natural gas as they say, is “cooking with gas.”
Name: Douglas C Curling
Position: Director
Transaction Date: 02-21-2025 Shares Bought: 10,000 shares an Average Price Paid of $29.88 for Cost: $298,800
Company: PROG Holdings Inc. (PRG):
PROG Holdings is a financial technology holding company that provides transparent and competitive payment solutions to consumers. Its operating segments include Progressive Leasing, which offers in-store, app-based, and e-commerce point-of-sale lease-to-own solutions; Vive Financial, an omnichannel provider of second-look revolving credit products; and Four Technologies, Inc., which enables Buy Now, Pay Later payment options through the Four platform. PROG Holdings also owns Build, a credit and financial management application. Progressive Leasing provides lease-purchase options for products such as furniture, appliances, electronics, mobile phones, and accessories from major traditional and e-commerce retailers.
Douglas C. Curling has joined the Board of Directors of PROG Holdings Inc. Since March 2009, he has been the managing principal of New Kent Capital LLC, a family-owned investment firm, and New Kent Consulting LLC, a consultancy specializing in privacy and mergers and acquisitions. Previously, he served on the Board of Directors for CoreLogic, a New York Stock Exchange-listed company that provides global property information, analytics, and data-driven services to financial institutions and real estate professionals. He remained on the board until June 2021, when the company transitioned to private ownership. Mr. Curling holds a Bachelor of Arts in Accounting and a Master of Science in Finance from the University of Virginia.
Opinion: Raymond James analyst Bobby Griffin lowered the firm’s price target on Prog Holdings to $40 from $48 and keeps an Outperform rating on the shares. The firm says the pullback following the Q4 results is an “overreaction,” noting that results came in ahead of expectations, driven by slightly higher revenue and modestly higher gross margins. While the Big Lots bankruptcy is a near-term pressure, the core aspects of Prog’s business are still intact and the risk/reward setup is compelling, the analyst tells investors in a research note found on Post on the Fly. I
It seems like a crowded space to me.
Name: Richard F Wallman
Position: Director
Transaction Date: 02-26-2025 Shares Bought: 15,000 shares an Average Price Paid of $25.18 for Cost: $377,767
Company: CECO Environmental Corp (CECO):
CECO Environmental Corp. is a diversified industrial corporation focused on environmentally conscious solutions for global markets in industrial air, industrial water, and energy transition. The company delivers advanced technology and application expertise to support business growth while ensuring safer, cleaner, and more efficient operations that protect people, the environment, and industrial equipment. Its solutions enhance air and water quality, control emissions, and optimize energy and process efficiency in highly engineered applications, including power generation, midstream and downstream hydrocarbon processing and transportation, semiconductor and electronics manufacturing, industrial water and wastewater treatment, and various other industrial end markets.
Richard F. Wallman joined the board of directors of CECO Environmental Corp. in November 2021. He previously served as Chief Financial Officer and Senior Vice President at both AlliedSignal, Inc. and Honeywell International, Inc. His earlier roles include Assistant Controller for Sales & Marketing at Chrysler Corp. and Vice President and Controller at International Business Machines Corp. Mr. Wallman holds an undergraduate degree from Vanderbilt University and an MBA from the University of Chicago Booth School of Business.
Opinion: Everyone likes clean air and water. Well, that was pre-CHAOS 2.0. I will say that insiders are steady buyers in this Company so I’m sure this dip will get some more buying. CECO reported a strong Q4, and the CEO said “Our full year 2025 outlook reflects the strong visibility we have with our record backlog, strong bookings, 2024 related project push outs, and the impact from our acquisitions. So far in early 2025, we are experiencing a continuation of the strong power generation, data center, general industrial and natural gas infrastructure markets that drove our strong Q4 orders. Clearly that’s a CEO talking to their strengths but mixed results are apparent in the stock market chart.
Name: Andrew C Teich
Position: Director
Transaction Date: 02-26-2025 Shares Bought: 18,154 shares an Average Price Paid of $19.29 for Cost: $350,160
Company: Resideo Technologies Inc. (REZI):
Resideo Technologies Inc. is a global leader in the design, development, and distribution of technology-driven sensing and control products that empower homeowners and businesses to manage comfort, security, energy consumption, and smart living. The company holds a leading position in various product categories, including home heating, ventilation, safety and fire suppression, and security. With a global footprint, it serves both residential and commercial markets. Operating at the intersection of several secular growth trends, Resideo is driven by the rising demand for essential comfort, energy management, and safety solutions in homes and businesses, as well as the long-term impact of energy transitions, which continue to shape investment in its products and technologies.
Andrew C. Teich has served on the Board of Directors of Resideo Technologies Inc. since 2018, holding the role of Lead Independent Director from 2019 to 2023 and assuming the position of Chairman of the Board in November 2024. Previously, he was the CEO and President of FLIR Systems Inc., a publicly traded global company based in Oregon specializing in advanced imaging and sensing technologies for military, industrial, and commercial applications. Teich retired in June 2017 after a 34-year career with the company. He holds a Bachelor of Science in Marketing from Arizona State University and completed the Advanced Management Program at Harvard Business School.
Opinion:
Name: Alan Mateo
Position: Director
Transaction Date: 02-21-2025 Shares Bought: 40,000 shares an Average Price Paid of $11.14 for Cost: $445,572
Company: 10x Genomics Inc. (TXG):
10x Genomics is a life sciences technology company committed to advancing human health by deepening the understanding of biology. It develops comprehensive solutions—including instruments, consumables, and software—that enable researchers to study biological systems at resolutions and scales that match their complexity. Leveraging expertise in chemistry, biology, hardware, and software, 10x Genomics has introduced a suite of technologies that allow scientists to explore biological systems with unprecedented depth. These innovations have facilitated significant discoveries in fields such as oncology, immunology, and neurology.
Alan V. Mateo has served on the board of directors of 10x Genomics, Inc. since June 2024. He is currently an advisor at Veeva Systems Inc., where he previously held the role of Executive Vice President of Global Sales from April 2015 to April 2024. Before joining Veeva, he spent a decade at Medidata Solutions, Inc., a provider of cloud-based solutions for the life sciences industry, where he held various senior leadership positions, including Senior Vice President of Field Operations from January 2014 to February 2015. Mr. Mateo holds a Bachelor of Science in Computer Science and Marketing from Juniata College.
Opinion: The rapid progress in machine learning and computational biology appears to be coalescing in this new age of generative AI. There are probably better names to play since Q4 was the first declining year over year growth in revenues.
Name: Yasunori Kaneko
Position: Director
Transaction Date: 02-27-2025 Shares Bought: 20,000 shares an Average Price Paid of $10.06 for Cost: $201,200
Name: Terry J Rosen
Position: Chief Executive Officer
Transaction Date: 02-27-2025 Shares Bought: 19,800 shares an Average Price Paid of $10.18 for Cost: $201,465
Company: Arcus Biosciences Inc. (RCUS):
Arcus Biosciences Inc. is a clinical-stage biopharmaceutical company dedicated to developing best-in-class treatments. Leveraging robust and highly efficient drug discovery capabilities, the company has built a diverse portfolio of investigational compounds currently in clinical development. Its most advanced candidate, an anti-TIGIT antibody, is undergoing multiple Phase 3 registrational trials for lung and gastrointestinal cancers. The clinical-stage portfolio continues to expand with treatments targeting immuno-oncology, cancer cell-intrinsic mechanisms, and immunological pathways. The company remains focused on creating, developing, and commercializing transformative therapies that deliver a meaningful impact on patients’ lives.
Dr. Kaneko has served on the board of directors at Arcus Biosciences Inc. since May 2015. He has been a managing director at Skyline Venture Partners, a venture capital firm, since 1999. Previously, he was a board member at LeukoSite, a biopharmaceutical company that merged with Millennium Pharmaceuticals in 1999. From 1992 to 1998, he held the roles of Chief Financial Officer and Vice President of Business Development at Tularik, a biopharmaceutical company. Dr. Kaneko earned both his undergraduate and medical degrees from Keio University in Tokyo and an MBA from Stanford Business School. He currently serves on the Dean of Research Advisory Council at Stanford University.
Terry Rosen is a co-founder of Arcus Biosciences and has served as Chairman of the Board of Directors since December 2017, Chief Executive Officer since May 2015, and a board member since April 2015. With over 30 years of experience leading successful drug research and development teams in the biotechnology and pharmaceutical industries, he co-founded Arcus in 2015 to develop treatments targeting tumor-induced immunosuppression. Previously, he co-founded and led Flexus Biosciences, a company focused on discovering small molecule therapeutics to counteract tumor immunosuppression. Dr. Rosen holds a Ph.D. in Chemistry from Harvard University.
Opinion: Clinical stage is the economic equivalent of cash burn.
In the fourth quarter of 2024, Arcus reported revenues of $36 million and research and development expenses of $111 million, resulting in a net loss of $94 million. Based on these figures, the company’s cash burn rate for that quarter was approximately $75 million.
Given the company’s cash reserves and burn rate, Arcus anticipates its funding will support operations through its initial pivotal read-outs for domvanalimab, quemliclustat, and casdatifan, including the STAR-221, PRISM-1, and PEAK-1 studies.
Additionally, in February 2025, Arcus announced a public offering of common stock, aiming to raise approximately $150 million to further support its research and development activities. This offering is expected to extend the company’s cash runway, enabling continued advancement of its clinical programs
Name: Edward H. West
Position: Chief Executive Officer
Transaction Date: 02-20-2025 Shares Bought: 55,000 shares an Average Price Paid of $9.2074 for Cost: $506,407
Company: Mitek Systems Inc (MITK):
Mitek Systems, Inc. is a pioneer in mobile image capture and a global provider of solutions for fraud prevention, digital identity verification, and cybersecurity. The company’s products address the growing sophistication of fraud in areas such as new account openings, digital account access, and payments. By leveraging artificial intelligence, computer vision, and proprietary biometrics, its enterprise-grade verification tools safeguard organizations against rising check fraud, persistent account opening fraud, and emerging cyber threats, including deepfakes and voice clones.
Edward H. West served as President and Chief Executive Officer of Cardtronics from 2018 to 2021, after previously holding the position of Chief Financial Officer from 2016 to 2018. From 2012 to 2015, he was President and Chief Executive Officer of Education Management Corp., having held roles of increasing responsibility at the company since 2006. Earlier in his career, he served as Executive Vice President and Chief Financial Officer at Delta Air Lines, playing a significant role during a transformative period and contributing to the company’s success in becoming the world’s most profitable airline. In 2012, Institutional Investor Magazine named him “CFO of the Year,” and CFO Magazine recognized him as one of the “Top 40 Under 40.” He holds a bachelor’s degree in business administration from Emory University.
Opinion: Identity verification in an increasingly digital world should be a no brainer. Any company that can get this right should be on a fast track to a monopoly in the space. When I look at their lack of consistent quarterly revenue growth, it’s apparent that they are not on any fast track. Although Mitek’s 2023 net revenue retention rate of approximately 117% is good, the Company has not grown from the mature mobile banking niche which they dominate.
Ed West was appointed as Mitek’s CEO in December 2024 so insider buying here is not unusual. In fact, it’s expected. I’m going to wait until I see growth outside mobile banking. Having a big vision and actually executing one are two very different things.
Name: Matthew Wilks
Position: Executive Chairman
Transaction Date: 02-26-2025 Shares Bought: 288,756 shares an Average Price Paid of $6.93 for Cost: $2,001,079
Company: ProFrac Holding Corp. (ACDC):
ProFrac Holding Corp. is a technology-driven, vertically integrated energy services company specializing in hydraulic fracturing, proppant production, and other completion services. Serving leading upstream oil and gas companies across the United States, the company focuses on the exploration and production of North American unconventional oil and natural gas resources. Founded in 2016, ProFrac aims to be the preferred service provider for the most demanding hydraulic fracturing requirements. With a strong commitment to innovation, the company leverages advanced technology to significantly reduce greenhouse gas emissions and enhance efficiency in a traditionally emissions-intensive sector. ProFrac operates through three primary business segments: stimulation services, proppant production, and manufacturing.
Matthew D. Wilks has served as Executive Chairman of the Board of Directors since August 2021 and as President since October 2018. Previously, he held the role of Chief Financial Officer from May 2017 to August 2021. Since January 2012, he has also been Vice President of Investments at Wilks Brothers. From 2010 to 2012, he was Vice President of Logistics at FTSI. Additionally, he served on the board of directors of Approach Resources, Inc., an exploration and production company specializing in unconventional oil and gas resources in the United States. Mr. Wilks earned a Bachelor of Business Administration in Finance from Texas Christian University.
Opinion: I think something is happening behind the scenes that could be very big. Energy Secretary Wight is very well connected in the oil and gas services support industry. He knows all the players from super majors down to leading independents and wild cat scrappers. Trump’s declaration last week that he would annul Chevron’s license to drill offshore Venezuela if Maduro didn’t comply and take his Venezuelan immigrants that Trump is deporting was telling.
Could the U.S. abandon and discourage global oil and gas exploration and force U.S. and others to concentrate their exploration and production efforts solely in the U.S.? Nothing seems unreasonable or farfetched in CHAOS 2.0. At least that would explain the enthusiasm of energy services companies buying their stock when it is acting so poorly, and the price of oil is on a downward trajectory. Purchase of Helmerich & Payne make more sense with this filter. Example like Noble Corporation and Energy Services of America last week.
Name: Zvi Limon
Position: Director
Transaction Date: 02-27-2025 Shares Bought: 168,506 shares an Average Price Paid of $2.93 for Cost: $493,723
Name: Adam Singolda
Position: Founder and CEO
Transaction Date: 02-28-2025 Shares Bought: 60,229 shares an Average Price Paid of $2.72 for Cost: $163,823
Company: Taboola.com Ltd. (TBLA):
Taboola.com Ltd. operates an artificial intelligence-driven algorithmic engine platform across Israel, the United States, the United Kingdom, Germany, and other international markets. The company offers Taboola, a platform that integrates with websites, devices, and mobile applications to recommend editorial content and advertisements to users on the open web. Founded in 2006, Taboola.com Ltd. is headquartered in New York, NY.
Zvi Limon has been a member of Taboola.com’s Board of Directors since 2007 and has served as Chairman since 2018. He began his career as a management consultant with Bain & Co. in London and Shaldor Ltd. in Israel. Limon also serves on the boards of various commercial and public companies. He holds an MBA from INSEAD and a BA in Economics and Business Administration from Bar-Ilan University.
Adam Singolda founded Taboola.com Ltd. in 2007 and serves as its CEO. Under his leadership, Taboola has grown into a global content discovery platform that enhances monetization and user engagement across websites, devices, and mobile apps. He studied computer science at The Open University of Israel.
Opinion: What does Taboola do? AT $400 million plus a quarter, it’s not a trivial ad platform yet when the mother of all ad models, Google, is getting disrupted by generative AI, the field is particularly treacherous.
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This blog is solely for educational purposes and the author’s own amusement. IT IS NOT INVESTMENT ADVICE. Think of the blog as part of my personal investment journal that I am willing to share with the DIY investor. There are also many parts that I am not willing to share if I think it could influence trading action or be detrimental to the Fund’s partners. We could be long, short, or have no position at all in any of the stocks mentioned and express no written or implied obligation to disclose any of that.
The Insiders Fund and its blogs and posts are not affiliated with, endorsed by, or sponsored by any of the companies mentioned herein. All company names, logos, and trademarks belong to their respective owners. The use of company logos is solely for descriptive and illustrative purposes under fair use. Any information provided is based on publicly available data and should not be considered financial, investment, or legal advice. Readers should conduct their own research or consult with a professional before making any investment decisions.
Insiders sell the stock for many reasons, but they generally buy for just one – to make money. You’ve always heard the best information is inside information. Everyone with any stock market experience pays close attention to what insiders are doing. After all, who knows a business better than the people running it? Officers, directors, and 10% owners are required to inform the public through a Form 4 Filing of any transaction, buy, sell, exercise, or any other within 48 hours of doing so. This info is available for free from the SEC’s Web site, Edgar, although we subscribe to SECForm4 as they provide a way to manage and make sense of the vast realms of data. I’ve tried a lot of vendors. SECForm4 is one of the smaller ones, but I like supporting Frank. He is not arrogant. He’s helpful and has great prices. He also trades on his own data, so I like people that eat what they kill.
The bar is different from selling because the natural state of management is to be a seller. This is because most companies provide significant amounts of management compensation packages as stock and options. Therefore, we analyze unusual patterns with selling, such as insiders selling 25 percent or more of their holdings or multiple insiders selling near 52-week lows. Another red flag is large planned sale programs that start without warning. Unfortunately, the public information disclosure requirements about these programs, referred to as Rule 10b5-1, are horrendously poor. Also, planned sales that pop up out of nowhere are basically sales and are seeking cover under this corporate welfare loophole. I also generally ignore 10 percent shareholders as they tend to be OPM (other people’s money) and perhaps not the smart money on which we are trying to read the tea leaves. I say generally because some 10% shareholders are great investors. Think Warren Buffett and others
Of course, insiders can also be wrong about their Company’s prospects. Don’t let anyone fool you into believing they never make mistakes. Do your own analysis. They can easily be wrong, and in many cases, maybe most cases, have no more idea what the future may hold than you or me. In short, you can lose money following them. We have, and we curse aloud; what were they thinking!
We like Fly on the Wall for keeping up with what events might be happening, analysts’ comments, and whatever else could be moving the stock. Dow Jones news service is an essential tool, but many services pick up their feed like they do Bloomberg. For quick financial analysis, it’s hard to beat Old School Value.
A big callout to my assistant Ambreen who sets up this conversation by listing the notable buys that I’ve identified as soon as practically possible. She probes the 10k for a reasonable description of the business. I’ve found that to be the most accurate and succinct place to find out what a business actually does. When I have time, over the weekend, I’ll add some preliminary analysis to the Opinion at the end. Sometimes I won’t update this for a couple of weeks or more. A good way to use this blog is as I do, it’s a reference point and filing cabinet for various stocks with notable insider buying. It’s one of many tools I use. I regularly live on Chat GPT and Microsoft Copilot now. I find the footnotes research very helpful in eliminating errors from AI hallucinations.
The Insiders Fund is for qualified investors and by Prospectus only. Nothing herein should be construed otherwise. THE INSIDERS FUND prefers to invest in companies at or near prices that management has been willing to invest significant amounts of their own money in, but we have no requirement to do so. We also invest in many companies in anticipation of future insider buying or with the expectation that there is none at all.
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Prosperous Trading,
[…] Opinion: You don’t hear much about Kratos any more. It even seems they lost their race to be the “loyal wingman” to the likes of Anduril and General Atomic in the Airforce’s quest for expendable UAVs. Stock acts well and the long time CEO is buying. Maybe Anduril will scoop them up before they go public? I like it but I can’t commit big money in any defense stock except HII. […]