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Originally Posted by MTG#10
And since you stock guru doubters are too damn lazy to do any research yourself I'll post some recent articles for you.
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Renaissance has a number of trend-following strategies that were likely triggered. It's what they do. There is no part of their business that is lauded as a quality assessor of fundamental value.
Vanguard, Blackrock, etc run a number of funds that track the market and have stakes in everything.
Since you enjoy internet links as DD, this was a nice one:
https://www.fool.com/investing/2021/...d-dump-scheme/
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Lie No. 7: BlackRock and Vanguard buying AMC stock is bullish
This is one I find particularly amusing, because apes are more than willing to welcome institutional investors with open arms if they happen to own shares of AMC.
Retail investors regularly use BlackRock's and Vanguard's ownership of AMC stock as a reason to promote optimism. However, this tells only a fraction of the real story. BlackRock and Vanguard are two of the largest institutional investment firms in the country, based on assets under management. As of their mid-May 13F filings, which detailed their holdings for the first quarter, BlackRock had close to 5,000 positions, with Vanguard chiming in with more than 4,000 positions. During Q1, BlackRock and Vanguard added to more than 3,900 and 3,200 of these stakes, respectively.
Put another way, BlackRock and Vanguard have so many product offerings that they have a stake in virtually every stock listed in an index. Saying that BlackRock and Vanguard buying AMC is bullish is akin to saying you bought shares of Ford stock because you like red paint.
As a percentage of shares outstanding, hedge fund and overall institutional ownership in AMC fell during the first quarter from the sequential fourth quarter. That's a fact!
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MTG 10 likes red paint, everyone! He can also paint by number!