If you want to improve your stock-picking skills, you'll be glad to know the government is here to help. Every three months, the Securities and Exchange Commission requires just about anyone managing more than $100 million in assets to report their holdings and their trading activity over the prior quarter.

While you can learn a lot from successful fund managers, they will be the first to remind you that their stock picks can't all be zingers. Instead of blindly following billionaires into the stocks they have been buying, let's take a closer look to see why those companies were so attractive to them in the first place.

Shares of Block (NYSE: SQ) are down around 39% from the 52-week high they reached in February. More than a few billionaire fund managers took advantage of the stock's decline to scoop up millions of shares.

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Source Fool.com