According to Yahoo News, investment management firm Horizon Kinetics released its third quarter 2023 investor letter, discussing financial market forecasts, the importance of securities exchanges as a key asset class, blockchain technology, and the challenges of achieving consistent success in emerging technologies. The letter also mentioned CACI International Inc (NYSE:CACI), a Virginia-based computers and information technology company with a $7.1 billion market capitalization.
Horizon Kinetics highlighted that while companies involved in packaging, managing, and transacting with digital assets, such as securities exchanges and asset managers, are a focus of the fund, operations like these are not entirely necessary to qualify a company as a blockchain beneficiary. CACI International (CACI), a defense electronics contractor, is becoming involved in blockchain technology from a different entry point: data analysis, with 95% of its revenues coming from the U.S. government.
The letter emphasized the value of data available through public, distributed ledgers and the potential for analyzing trends and narratives based on the flow of activity, as all transaction data of every single token, from the time it was created, resides on the blockchain. CACI International Inc (NYSE:CACI) delivered a 6.62% return since the beginning of the year, while its 12-month returns are up by 4.44%. The stock closed at $320.49 per share on November 17, 2023.