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$JANX is the King of Insider Trading

$JANX is the King of Insider Trading

Warren Buffett keeps buying this stock over and over

Omar Aslai
June 11, 2024 • Estimated Reading Time: 5 minutes

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Good evening folks.

Here’s what we got for you on this fine Tuesday:

Buffett buys $OXY for $150 million
$JANX is peak insider trading
Mason Morfit buys 428k of $CRM

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Buffett KEEPS buying $OXY

You may remember $OXY from a few newsletters ago

Senator Thomas Carper’s wife purchased the petroleum stock on May 9, 2024

If you remember, Thomas Carper sits on the Senate Committee on Environment.

Occidental recently bought a carbon capture startup for $1.1B, in order to sell carbon-removal credits.

Mr. Buffett purchased 2.5 million shares at $59.75. With a value of a whopping $153,292,504.

Between June 5th and June 7th, Berkshire Hathaway (BRK.A) bought 2.56 million shares of Occidental Petroleum (OXY) for about $153 million.

He now owns 250m out of the outstanding 886m

This hefty investment boosts Berkshire's total stake in Occidental Petroleum to 27.97%, solidifying its spot as a top institutional holder with nearly $15 billion invested.

It’s not recommended to “coat tail” someone else’s investment ideas. Do your own DD, have your own conviction.

The Pinnacle of Insider Trading

if there was an award for the most obvious insider trades, $JANX would take home the award

2 insiders turned $4 million → $80 million
1 turned $850 → $45 million

Data is from openinsider.com

They bought and sold at the same exact time.

Note that they bought at the very bottom. And at one point had $100 mill + in gains.

Mason Morfit purchases $100 million in Salesforce

On June 3, Mason Morfit, Co-CEO and Chief Investment Officer of ValueAct Capital, made a substantial investment in Salesforce (CRM).

Morfit purchased 428,000 shares at an average price of $233.17 per share, totaling approximately $99.8 million. This acquisition marks the first insider purchase at Salesforce since 2020 and Morfit's first insider purchase since joining the board in March 2023.

Breakdown of the Trade:

Shares Purchased: 428,000
Average Share Price: $233.17
Total Cost: $99,796,760

Mason Morfit leads ValueAct Capital, a San Francisco-based investment firm known for its active investment strategies. ValueAct specializes in identifying undervalued companies or those undergoing significant transitions. By making substantial investments, ValueAct aims to work closely with company management to implement changes that enhance long-term stock value, thereby generating profits for the firm.

This massive insider purchase signals strong confidence in Salesforce's future prospects and reflects ValueAct's strategic approach to creating shareholder value.