Forget Nvidia: Billionaires Are Scooping Up Bargains in This $6.5 Trillion Market
Anything related to artificial intelligence (AI) has been a hot ticket on Wall Street over the last 18 months. Shares of AI chip leader Nvidia (NASDAQ: NVDA) have more than doubled this year, making it one of the top performers in the S&P 500 index. But it's telling that the wealthiest investors are not chasing it at these lofty highs.
Billionaires generally will not invest their assets in expensive growth stocks that could be susceptible to a market decline. Nvidia may continue to hit new highs this year, but there's also substantial downside risk if the company doesn't meet Wall Street's sky-high growth expectations.
Billionaires are interested in growing and preserving their assets. This usually leads them to look for reasonably priced companies that have competitive advantages that are underestimated by the market.
Source Fool.com
