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AI Creator - Kelly Korshak, CTO of iFlip Invest Inc.

Kelly is a Stanford graduate who worked on Wall Street for 30+ years for institutions like Deutsche Bank, Morgan Stanley, Bank of America and Tudor Group. He has investing experience with over $4 billion in assets and is the architect of iFlip’s AI technology.

Where is the Market now? Hold your AI Smartfolio positions.

 As I write this, it is Thursday after the close, July 9/2020. The S&P as represented by the SPY (spider) closed to at 314.12. That’s down just 10 points and thus about 3% on the year. Given that in the middle of March the S&P was at 222, the rebound has been nothing short of a remarkable, V-shaped bottom. Let’s show our SPY chart with the algo attached, since most of you have this in your portfolio:

Chart 1
Chart 1

 Flip users with the “SP Benchmark” in their portfolio were able to avoid more than 50 points of the drop and re-enter the market at a tactically defendable place during the despair of the market back in March – and participate in the “V”. Not only has the broader market recovered, but the Nasdaq, as evidenced by the QQQ, by comparison is at new all time highs and continues to move higher:  

Chart 2
Chart 2

This is because in a world now navigating covid, the stocks that profoundly represent the Nasdaq are perceived to be able to flourish e.g. Apple, Nvida, Amazon etc.

I’m a believer that AI and the math inside has the ability to navigate the market better than any human. Personally, I feel the market may not be factoring all the risk associated with a potential Trump defeat (Roe’s Note: Perhaps change this to “Administration Change” in November? But if you want to keep it within your own personal opinion then it’s fine) in November, and a prolonged worldwide battle with covid prior to a vaccine, which isn’t likely to happen until after the election. A Trump defeat means an end to the corporate tax cut, reducing earnings and thus cutting stock prices. Moreover, prolonged covid issues, vaccine or not. will cut demand and that also means less earnings. On the plus side, we have worldwide central banks stimulating demand by moving rates to zero and fiscal policy calling for more stimulus checks. Given this, I feel the market is going to be in a holding pattern and at the mercy of the news of the day until closer to the election.

So.. What’s next ?

In a phrase:  let the math work. Hold your strategies and your symbols. There is only about 3% risk on the downside at current levels of the SPY for those of you that have the benchmark algorithm. That’s a risk worth taking. If you think there will be a recovery in the next couple of years, Trump or no Trump, the volatile RedOil and SPY I index models will perform best. Oil stocks look good despite their recent retreats from highs as they want to maintain dividends and at current levels represent good long term value. If you feel that Trump will not be re-elected, the algorithms will manage the downside in the SPY and it may be time to consider lowering exposure to the high flyers e.g. Apple, Amazon etc. Regardless, Flip’s AI product does manage risk and will protect your portfolio in a sustained downturn.

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Doug Adams - COO

Doug Adams has more than 30 years of experience as an executive in the IT industry. He has demonstrated success helping companies grow profitably with high degrees of customer satisfaction. 

He has a passion for developing talent and building high performing teams. Most recently as a Senior VP at FusionStorm, he helped grow the company from $440mm to over $1bb in sales and improve profitability 1500% (15x) over 7 years. Prior to that he was at Oracle for 14 years where he served as a Vice President in their North America Consulting Division. 

He had responsibility for a variety of software and technology practices with a team of over 400 consultants. He has also held leadership positions at IBM and Andersen Consulting (Accenture), and holds a BS degree from Cal Poly, San Luis Obispo in Industrial Engineering.

Ed Sweeney

Ed Sweeny - Board Member

Ed Sweeney is a partner and a founder of RCM Alternatives. Previously, he was a Managing Director of Trading at TD Options, LLC, a subsidiary of TD Securities until 2006. 

He is also a founder of Starboard Specialty Funds, LLC. which is an active fund specializing in private and publicly traded bank equities.
He was also a co-founder of a trading technology firm, Ragnarok Systems, and also worked for O’Connor & Associates and at Swiss Bank Corporation as a director of fixed income trading.
Mr. Sweeney graduated with an M.S. and B.S. in Mechanical Engineering from MIT, has a J.D. from John Marshall Law School and holds a Series 7, 24 and 63 licenses.

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Karla Dennis - Board Member

As seen in Forbes Magazine, Karla Dennis is an expert tax and business strategist. As an enrolled agent, Karla is licensed to represent taxpayers in all 50 states. She holds a Masters in Taxation and Business Development and is the author of two books, Tax Storm and Against the Odds. 

She has been featured in various media outlets such as, KTLA, Forbes, MSNBC, Yahoo! Finance, and SmartMoney marking her the ultimate tax and business expert.

Thomas Shippee Bio

Thomas Shippee - Consulting Board Member

Thomas P. Shippee is a financial services investor and industry expert. His early years he earned a Bachelor’s degree in Economics at Bates College and an MBA at Pepperdine University.   

For the last 35 years he has served in various positions including CEO of Wells Fargo Financial whereupon he oversaw all US and Canadian consumer and commercial business finance operations from Des Moines, IA.  He currently spends his efforts in the consumer financial services industry counseling and working for small privately held businesses.  

David Bay Bio

David Bay - Consulting Board Member

David is a Kentucky native graduating with a degree in Music Education at University of Kentucky and a Masters degree in Education from Xavier University. His early years were spent excelling as band director leading his group to breaking records, honors and 3 straight years of placing in state wide competitions. 

In 1988 David started a new life of entrepreneurship. Since then his natural ability to lead and passion for growing people has stretched him to employ over a hundred employees and operating several businesses over several industries including real estate, heating oil, farm gas, commercial lubricant, consulting, skilled nursing care, convenience store and restaurant business.  

Marc C

Marc Chesley - Consulting Board Member

Marc Chesley is a software industry pioneer with a passion for growing people and companies. He is a recognized innovator and operational leader. As former CTO at Infusionsoft, Marc helped grow the company from startup to over $100mm in revenue. He has led as CEO and President of many fast-growth software companies. 

Marc was recognized as Arizona CIO of the Year by the Phoenix Business Journal and the Arizona Technology Council.  The Society for Information Management awarded him Arizona IT Leader of the Year. He currently works as the COO at Paradox (fast-growing software firm) managing product teams, engineering teams, business development teams and serving as general counsel.


Kelly Korshak - CTO

Kelly attended Stanford and subsequently the University of Chicago and has a graduate degree in mathematics.  He spent 30+ years on Wall Street, investing over $4 Billion assets for institutional banks and funds including Deutsche Bank, Morgan Stanley, Diamondback Capital, Brevan Howard and Tudor Group. 

His strategy to investing is built around the approach that mathematical algorithms produce superior risk / reward in the stock market.  This algorithmic intelligence (AI) approach led him to retire from Wall Street with his family in Arizona to start up his own company “Flip Investor”.  

His dream is to empower all individuals to grow their wealth through AI investment technology.

Randy Tate

Randy Tate - CEO

Randy spent his earlier years as a successful collegiate athlete and then self-made entrepreneur.  He grew an athletic apparel company to over $5M+ in revenue, then sold it to a publicly traded sporting conglomerate, Sports Chalet. 

For the last 10+ years he has trained thousands of employees and business owners on how to market effectively, grow sales and build sustainable growth in their companies.

His passion for technology led him to one of the fastest growing software companies called Infusionsoft, which peaked with over 150,000 software users.  As the VP of Business Training for customers, he developed and oversaw the expansion of the Elite Business Education curriculum program.

Since then he has led as the co-founder and CEO of iFlip, SAAS Financial Technology Company.  His passion is to empower all individuals to grow their wealth for the future through the use of AI investing technology.