When billionaires buy, pay attention.
Over the last several weeks, billionaires like David Shaw of D.E. Shaw, Israel Englander of
Millennium Management and Ray Dalio of Bridgewater Associates all jumped into the SPDR
S&P 500 ETF Trust (SYM: SPY). In fact, David Shaw increased his holding of the SPDR S&P 500 ETF by
256% to 498,167 shares. Israel Englander boosted his holding by 81% to 5,566,606 shares.
Ray Dalio increased his stake by 18% to 836,965 shares.
Even Warren Buffett holds the SPY.
In fact, on a few occasions he has said that one of the best things an investor can do is to own
the S&P 500 index fund. “I like Berkshire, but I think that a person who doesn’t know anything
about stocks at all, and doesn’t have any special feelings about Berkshire, I think they ought to
buy the S&P 500 index,” he once said, as quoted by Morningstar.com.
With that, and how oversold it has become, now is the best time to jump into the fund.
For one, the SPY is now oversold just under its 50-day moving average at $586.10. Two, it’s
over-extended on RSI, MACD and Williams’ %R. From its last traded price of $586.10, we’d like
to see the fund initially retest $610.
Also, with an expense ratio of 0.0945% and a 30-day yield of 1.14%, the SPY looks to provide
investment results that correspond to the price and yield performance of the S&P 500. It also
holds 502 of the most-respected stocks on the S&P 500, including Apple, Microsoft, Nvidia,
Amazon, Meta Platforms, Tesla, Alphabet, Broadcom and Berkshire Hathaway.
Again, from its last traded price of $586.10, we’d like to see the fund initially retest $610.
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Written by Ian Cooper