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Billionaires Are Deciding to Sell Shares of This Well-Known Stock

TheMotleyFool

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Billionaires Are Deciding to Sell Shares of This Well-Known Stock: https://g.foolcdn.com/editorial/images/779342/people-ordering-in-a-restaurant-using-toast-pos.jpg

It's easy to see what billionaire hedge fund managers buy and sell every quarter. Although you generally don't get to watch it in real time, hedge funds are required to file a quarterly update with the Securities and Exchange Commission (SEC), and these filings are available to the public.

It seems like a good idea to check out what stocks billionaire managers are buying and selling. But is it?

John Overdeck and David Seigel from Two Sigma Investments and Michael Burry of Scion Asset Management both just sold shares of Toast (NYSE: TOST) stock. Two Sigma reduced its position by 47%, and Burry sold out of his fund's entire stake. Should retail investors follow suit?

Source Fool.com

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