2 Magnificent Growth Stocks Down 70% and 74% That Wall Street Billionaires Are Buying
David Siegel and John Overdeck run Two Sigma Investments, while Ken Griffin runs Citadel Advisors, and all three hedge fund managers have a place on the Bloomberg Billionaires Index. Interestingly, all three hedge fund managers also bought shares of (NASDAQ: ETSY) and Cloudflare (NYSE: NET) during the first quarter.
Siegel, Overdeck, and Griffin own thousands of stocks, and Etsy and Cloudflare account for small fractions of their portfolios. But the purchases are still noteworthy given the success the hedge fund managers have achieved. Beyond their status as billionaires, Two Sigma and Citadel beat the market in the first quarter, and Citadel recently became the most successful hedge fund in history.
Currently, shares of Etsy and Cloudflare are trading down 70% and 74%, respectively. Investors should treat that drawdown as a buying opportunity.
Source Fool.com
