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ETF Buying Strategy Guide 2023

ETF Buying Strategy Guide 2023

And, XRP surges before big conference.

Photo by Tyler Prahm on Unsplash

Today is Monday, November 6, 2023.

The Early Bird Index today is 54.16.

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ETF Buying Strategy Guide 2023

Here are the types of ETFs (exchange-traded funds) to buy and avoid in late 2023, according to Days Global Advisors CEO Christopher Day in a new episode of the Early Bird podcast.

Definition: An ETF is similar to a mutual fund, which is a portfolio of securities such as stocks and bonds, except an ETF is priced, bought, and sold in real-time.

Powering the Story: Day recommends that investors currently buy ETFs that are uncorrelated to the broader S&P 500 because it will allow investors to increase returns without taking on more risk.

Further Details: While the S&P 500 can go up over time, Day said that he is concerned about high-interest rates and lower growth in today’s market.

Also: Keep an eye on ETFs that are controlled by active managers as well as ETFs that have alternative assets such as cryptocurrency, according to Day.

Beware: Day said that investors in this market should avoid ETFs with high multiples and ETFs that are tied to emerging markets.

Final Thoughts: What is Day’s outlook for limiting risk in today’s market? What advice does Day have for investors who are new to ETFs? Find out by listening to a new episode of the Early Bird podcast.

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Notables

Notable Earnings Today: Realty Income (NYSE: O), DISH Network (Nasdaq: DISH), Brookfield Asset Management (NYSE: BAM), Vimeo (Nasdaq: VMEO), Hims & Hers Health (NYSE: HIMS), Fabrinet (NYSE: FN), NXP Semiconductors (Nasdaq: NXPI), Goodyear Tire (Nasdaq: GT), RingCentral (NYSE: RNG), BioNTech (Nasadq: BNTX), Hilton Grand Vacations (NYSE: HGV), International Flavors & Fragrances (NYSE: IFF), Vertex Pharmaceuticals (Nasdaq: VRTX), Axsome (Nasdaq: AXSM), Diamondback Energy (Nasdaq: FANG), Tecnoglass (NYSE: TGLS), Clover (Nasdaq: CLOV), Affiliated Managers (NYSE: AMG), Coterra Energy (NYSE: CTRA), Ceragon (Nasdaq: CRNT), TripAdvisor (Nasdaq: TRIP), Freshpet (Nasdaq: FRPT), FibroGen (Nasdaq: FGEN), Kosmos Energy (NYSE: KOS), Celanese (NYSE: CE), AAON (Nasdaq: AAON), ADTRAN (Nasdaq: ADTN), Air Lease (NYSE: AL), Air Transport Services Group (Nasdaq: ATSG), Alteryx (NYSE: AYX), AssetMark (NYSE: AMK), Cabot (NYSE: CBT), CoreCivic (NYSE: CXW), Halozyme Therapeutics (Nasdaq: HALO), Hecla Mining (NYSE: HL), Matterport (Nasdaq: MTTR), Medifast (NYSE: MED), Myriad Genetics (Nasdaq: MYGN), NeoGenomics (Nasdaq: NEO), Olo (NYSE: OLO), Opko Health (Nasdaq: OPK), Rover Group (Nasdaq: ROVR), Ryman Hospitality (NYSE: RHP), ShockWave Medical (Nasdaq: SWAV), Talos Energy (NYSE: TALO), Teradata (NYSE: TDC), Veeco Instruments (Nasdaq: VECO).

Notable IPOs Today: N/A.

Notable Equity Crowdfunding Campaigns Ending Today: Roost Uncommon Kitchen (Honeycomb), PSYONIC (StartEngine), Georgie’s Corner Cafe (Honeycomb), BIB Technologies (StartEngine), URB Bridal (Honeycomb), Fanbase (StartEngine), Pepper Bru (Honeycomb).

Notable Economic Events Today: N/A.

XRP Surges Before Big Conference

Gif by ettrics on Giphy

The price of the cryptocurrency XRP jumped 9% on Sunday, days before the Ripple Swell conference in Dubai this week. XRP is Ripple’s native crypto.

Final Thoughts: There’s been a strong bullish sentiment surrounding XRP in recent weeks due to positive expectations from regulators. XRP is up 27% in the last 30 days.

Palo Alto Networks Will Reportedly Acquire Startup

A report from The Information on Sunday claimed that Palo Alto Networks (Nasdaq: PANW) is close to acquiring startup Talon Cyber Security for $600 million to $700 million.

Final Thoughts: Palo Alto Networks, which reports financial earnings next week, is up 75% this year.