The Smartest Investors Bought This Stock in 2020

This year will probably be remembered as one of the worst for many investors. The March market crash sent portfolios into a tailspin. The S&P 500 lost 30% from January through its March low as the coronavirus outbreak turned into a pandemic and businesses around the world temporarily closed their doors. The first instinct for some might have been to flee the market. But the richest people hung on -- and in many instances, used the crash as a buying opportunity.

In the third quarter, billionaire investor Warren Buffett's Berkshire Hathaway (NYSE: BRK-A)(NYSE: BRK-B) was a clear believer in stocks, even investing in the Snowflake initial public offering. But the best move Buffett, and other wealthy investors, made this year was this: holding onto or buying Amazon (NASDAQ: AMZN) shares.

Image source: Getty Images.

Source Fool.com