In this article we presented the 10 best tech stocks to buy according to billionaire Ken Griffin. You can skip our detailed analysis of Griffin’s investment strategy and his history to read 10 Best Tech Stocks to Buy According to Billionaire Ken Griffin.
Technology stocks are back into business, thanks to a decline in bond yields and an increasing investor confidence in growth stocks. Major tech stocks including Amazon, Apple, Microsoft and Alphabet have gained value so far in April after getting clobbered in March. The tech-heavy NASDAQ composite index has gained 7% year to date. The dramatic rise of tech stocks over the past few years is deeply rooted in the products and services tech companies are offering. The pandemic highlighted this fact. Tech companies, SaaS startups, Cloud and gaming companies are literally changing the lives of billions of people all over the world. According to legendary investor Peter Thiel, the biggest advantage software companies have is the ability to operate with negligible costs and still enjoy explosive margins. For example, when Facebook bought Instagram for a whopping $1 billion, the photo-sharing social service had just 13 employees, and 30 million users. Companies like Shopify, Uber Eats, Cloudflare, Salesforce, Twilio, Adobe empower millions of people with their platforms that solve some key problems or enable people to carry out some essential tasks or operations.
Ken Griffin of Citadel Investment Group
According to a 2018 report by Jefferies, technology has accounted for about 50% of market growth in the past two years. NASDAQ delivered a 45% return in 2020, as the world saw a flurry of tech IPOs in the midst of the coronavirus pandemic.
In this article we are going to list the 10 best stocks to buy now according to billionaire Ken Griffin. Griffin, who founded Citadel Investment Group in 1990, is a stock-picking genius. When the entire hedge fund industry was wavering, Citadel’s flagship Wellington fund gained 24.4% in 2020, its best performance in 8 years. Griffin’s global fixed income fund was up 17.5% in the same period.
That’s why Griffin’s tech picks are worth a look, especially for those who want to invest in growth and tech stocks. Why? Because Insider Monkey’s research was able to identify in advance a select group of hedge fund holdings that outperformed the S&P 500 ETFs by more than 124 percentage points since March 2017. Between March 2017 and February 26th 2021 our monthly newsletter’s stock picks returned 197.2%, vs. 72.4% for the SPY. Our stock picks outperformed the market by more than 124 percentage points (see the details here). We were also able to identify in advance a select group of hedge fund holdings that significantly underperformed the market. We have been tracking and sharing the list of these stocks since February 2017 and they lost 13% through November 16th. That’s why we believe hedge…
Read More: finance.yahoo.com