Today we are going to discuss the list of the best stocks to buy right now according to hedge funds, published by Insider Monkey. This year brought lots of unprecendented things due to the coronavirus pandemic globally. Those investors, who reacted quickly it was the year of great possibilities, while most of the industries had a lockdown, and consquently larges financial loss. Million of people lost their jobs, tens of thousands of patients died, and the world eceonomy still hasn’t recovered from the shock.
In 2019, the top five stock picks of the hedge funds returned 39.9% and beat the market by 8.6 percentage points. In the last two years, these stocks returned 95% and beat the S&P 500 Index by 48 percentage points. Unfortunately, lots of investors invested in unwise index funds, since they thought that they can’t outperform the market by stock selection. In this article Insider Monkey will present you with a simple investment strategy that outperformed S&P 500 Index ETF (SPY) by 121 percentage points since 2015.
And now, without a further ado, let’s see what Insider Monkey has investigated for you about the best stocks to buy right now according to hedge funds. We have picked two stocks from Insider Monkey’s list, as usual. PayPal is on the eighth spot on the compilation, followed by Visa Inc which stands on the sixth spot.
PayPal Holdings, Inc. (NASDAQ:PYPL): $201
Number of Hedge Funds: 144 (2020 Q2)
Number of Hedge Funds: 150 (2020 Q3)
Total Dollar Amount of Long Hedge Fund Positions:$11.5 billion
Percent of Hedge Funds with Long Positions: 18.4%
Fourth Quarter Return (through November 23rd): 1.9%
Popularity Ranking (2020 Q2): 9
Popularity Ranking (2020Q1): 11
Noteworthy Hedge Fund Shareholders: Philippe Laffont, Christopher Lyle
Visa Inc. (NYSE:V): $208
Number of Hedge Funds: 154 (2020 Q2)
Number of Hedge Funds: 160 (2020 Q3)
Total Dollar Amount of Long Hedge Fund Positions:$18.7 billion
Percent of Hedge Funds with Long Positions: 19.6%
Fourth Quarter Return (through November 23rd): 4.3%
Popularity Ranking (2020 Q2): 6
Popularity Ranking (2020Q1): 6
Noteworthy Hedge Fund Shareholders: Ken Fisher Warren Buffett