The Nasdaq Composite fell into a bear market in late 2021, and it has yet to rebound. In fact, the tech-heavy stock index is still down 28% from its high. Yet, some of the wealthiest hedge fund managers on Wall Street have been buying growth stocks throughout the bear market.

Last year, Jim Simons of Renaissance Technologies more than tripled his positions in Datadog (NASDAQ: DDOG) and Zscaler (NASDAQ: ZS). Meanwhile, Ron Baron of Bamco doubled his stake in Datadog, and Steven Cohen of Point72 Asset Management doubled his stake in Zscaler.

Is it time to buy these growth stocks that billionaires are buying hand over fist?

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Source Fool.com