🤖 Sit On Your Actuators

AI is outperforming benchmark ETFs by using Charlie Munger's "Sit On Your A**" investing strategy.

Sebastian Soran
February 09, 2024

Happy Friday, Zingernation! Forget Starbucks Rewards. Why settle for a free coffee when blockchain tokens can brew fortunes? Whales Market is a platform that enables users to trade their “loyalty points” for actual gains — and it has scored a return of over 10,000% in 2024 so far.

Hold my iced venti latte — I’ll have what they’re having.

Today, we’re looking into an AI-powered stock picker that has beaten benchmark ETFs, why Bitcoin miners have recently seen record outflows and more.

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MARKET SNAPSHOT

TOP STORY

Charlie Munger's 'Sit On Your A-- Investing' Strategy Actually Works, Says Market Pro — With Artificial Intelligence

Briefly: This AI-powered stock picker has beaten benchmark exchange-traded funds by following a — ahem — unique investment philosophy.

So Basically: Doug Clinton, managing partner at Deepwater Asset Management, is embracing what the late Charlie Munger called “sit on your ass investing.”

So Then: The Minneapolis-based Deepwater launched Intelligent Alpha in 2022 using generative AI (GenAI) models to seek long-term investments fueled only by fundamental business performance.

So What? Essentially, the model cuts out all the noise that might drive short-term equity performance, instead simply selecting good companies and sitting on them. And so far it’s working, beating out the $QQQ, $SPY and more.

What Next: Read more here.

A MESSAGE FROM HEAR

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FIVE ZINGERS

Back & Better: Solana rebounds 5% amid positive market sentiment despite its recent outage, with trading volume and open interest rising.

Future Of Aviation: Business magnate Bill Gates and Breakthrough Energy Ventures (BEV) took the next step toward net-zero aviation by investing $107 million in Heart Aerospace.

Canary Calling: Bitcoin mining companies Marathon Digital and Riot Platforms shares have had a tough start to 2024 and are trading down by 17% and 20%, res pectively.

Cleaner Clouds: HSBC has teamed up with Google Cloud to provide venture debt financing to companies specializing in climate technology.

Leading The Pack: JPMorgan Chase's AI research output has increased from 30% in 2018 to 45% in 2023, solidifying its position as a top AI research entity.

ONE FOR THE ROAD

Bitcoin Halving Prompts Record Miner Selling: Bitfinex Report

Briefly: Ahead of the Bitcoin Halving event, miners’ reserves have seen record outflows, reaching the lowest level since June 2021.

What Happened: The latest Bitfinex Alpha report attributes the recent price pullback to Bitcoin miners' selling ahead of the upcoming halving event in April 2024.

What Else: Following the ETF approval, Bitcoin miner reserves dropped significantly, with the second day of ETF approval (Jan.12) witnessing a $1 billion increase in Bitcoin miners’ outflow to exchanges. This marked a six-year-high in miner outflow.

Why It Matters: Now that Spot ETFs have been approved, Bitcoin Halving is fast becoming the next significant event in the crypto industry. This also indicates the significant impact of miners on market liquidity and price discovery.

What Next: Read more here.