Finance

Stocks that billionaire investors agree it is safe to buy now

Having a good person to follow is always a good option. So, take a look at some of the stocks billionaire investors are buying.

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When it comes to comes, we all know that we need to study, understand the company we want to invest in deeply, and have the conviction that we made the right call so we can sleep at night.

Even so, it is kind of comforting if we use the path that experienced investors are taking and use them to consider our options.

So, we are going to be taking a look at some stocks that billionaire investors believe are interesting right now.

Let’s check it out!

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Amazon

Although hedge funds were net sellers of the e-commerce behemoth in Q2, some billionaires spotted a deal and bought Amazon.com stock, which lost 35% of its value.

With an estimated $6.5 billion in wealth, Philippe Laffont undoubtedly did.

He increased the number of shares in Amazon owned by his hedge fund Coatue Management ($73 billion AUM) by 35% or 1.1 million shares.

4.1 million shares, valued at $437.4 million as of June 30, were held by the New York fund, which has been investing in Amazon stock since 2009.

 The fourth-largest holding for Coatue is currently AMZN, accounting for 5.3% of the portfolio.

AMZN has been under pressure all year due to escalating recessionary concerns and their possible effects on consumer spending.

Amazon has also suffered as a result of the market’s shift away from costly growth stocks and toward more value-oriented names.

At the very least, Wall Street analysts are now describing Amazon shares as a screaming value purchase. At least in Q2, Laffont was in complete agreement with their evaluation.

Meta Platforms

The past year has not been kind to Chase Coleman III. During the first four months of 2022, his Tiger Global Management hedge fund ($124.7 billion AUM) saw one of the largest dollar losses in business history, stung by sharp falls in key holdings like JD.com (JD), Microsoft (MSFT), and Sea Ltd. (SE).

Coleman, however, did not achieve an estimated net worth of $10.3 billion by allowing a minor setback, such as a $17 billion loss, to upset him.

The legendary hedge fund manager immediately returned to bargain hunting in the same industry that earlier this year cost Tiger Global so much money. In fact, the New York hedge fund increased its wager by 15%, or 590,625 shares, on Facebook parent company Meta Platforms in Q2.

Constellation Energy

David Tepper’s estimated fortune of $17.3 billion was accumulated in part due to his impeccable timing.

And his Appaloosa Management ($20.7 billion AUM) hedge fund put those abilities on full display in Q2 when it bought a stake in Constellation Energy.

Utility companies are typically thought of as dull and poky dividend payers. But CEG also happens to be the biggest producer of carbon-free energy in the United States because of its network of nuclear, wind, solar, and hydroelectric plants.

Without a doubt, the Inflation Reduction Act of the Biden administration, which allocates $369 billion in federal funding to green energy, provided CEG and its competitors a huge boost in August.

Tepper was present for that as well. In the three months ending June 30, the owner of the NFL’s Carolina Panthers purchased 2.7 million shares in CEG for a total of $154.6 million.

Since then, the stock has increased by around 44%, and year-to-date, it has nearly doubled.

CEG is the fourth-largest position of the hedge fund based in Short Hills, New Jersey, accounting for 9.7% of the portfolio.

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