2 Magnificent Growth Stocks That Billionaires Bought in a Bear Market
The S&P 500 index dropped into a bear market last year as many investors sold stocks, hoping to avoid the pain of a possible recession. But some of the wealthiest hedge fund managers on Wall Street did the exact opposite. They treated the decline as a buying opportunity.
Israel Englander of Millennium Management nearly doubled his stake in HubSpot (NYSE: HUBS) last year, and he added a few shares to his position in Paycom Software (NYSE: PAYC). Meanwhile, Louis Bacon of Moore Capital Management started a position in Paycom during the second quarter, and he added to that position in the third and fourth quarters. Bacon also bought shares of HubSpot during the fourth quarter.
Is it time to buy these growth stocks?
Source Fool.com
