2 Artificial Intelligence Stocks Millionaires Are Buying in a Nasdaq Bear Market
The Nasdaq Composite fell 33% last year as economic uncertainty rattled investors. It was the worst annual performance for the index since the Great Recession in 2008-09, and the tech-heavy index is still deep in bear-market territory. Some wealthy hedge fund managers are ignoring the economic turmoil and, instead, treated the drawdown as a buying opportunity.
In the fourth quarter, Steven Cohen of Point72 Asset Management started positions in Upstart Holdings (NASDAQ: UPST) and Cognex (NASDAQ: CGNX). Meanwhile, Ray Dalio of Bridgewater Associates took a stake in Upstart, and Kenneth Jacobs of Lazard Asset Management increased his position in Cognex.
Is it time for the rest of us to buy these two artificial intelligence (AI) stocks, too?
Source Fool.com
