10 Best Stocks to Buy According to Billionaire Ken Fisher

In this article, we’ll explore the 10 Best Stocks to Buy According to Billionaire Ken Fisher.

Ken Fisher is a prominent American investor and financial analyst, known for founding Fisher Investments in 1979. Born in San Francisco in 1950, he is the son of influential stock investor Philip A. Fisher. Fisher graduated from Humboldt State University with a degree in economics in 1972. He began his career in investment management and quickly made a name for himself through innovative approaches to investment theory.

Under Fisher’s leadership, the firm has been recognized for its investment strategies and has consistently ranked among the top investment advisers in the U.S. For several years, Fisher Investments has been included in the Financial Times’ list of top Registered Investment Advisors. Fisher is also a best-selling author, having written multiple books on investment strategies, and he is known for popularizing concepts like the Price-to-Sales ratio as a tool for stock analysis

Understanding Bull Markets and the Role of Technology in Investment Strategies

Ken Fisher talked about the markets in a September 2024 video that was posted on his firm’s YouTube channel, Fisher Investments, and mentioned that he frequently gets asked about which sectors he believes will outperform or underperform over the next 18 months. He currently sees the market in the later stages, though not at the end, of a somewhat unusual bull market shaped by the unique challenges since COVID-19 began. As this bull market nears its two-year mark in October, he observes that while major trends may not shift significantly in the immediate future, technology stocks have consistently outperformed non-tech stocks since the market began to recover from the pandemic.

Fisher noted that, when the market sees substantial movement, up or down by half a percent or more, technology stocks tend to follow that trend more intensely. Thus, if the market is expected to rise, tech stocks will likely perform well; conversely, they often lag during market downturns.

Ken Fisher Predicts Shift as Value Stocks Begin to Outperform Growth Amid Fed Rate Speculations

Ken Fisher noted that as 2024 progressed, he expected value stocks to begin outperforming growth stocks more than they had in the past. While this expectation did not materialize in the first and second quarters, he observed that the trend started to emerge in the third quarter. However, he was surprised to see that energy stocks continued to underperform compared to most value stocks.

“As 2024 progressed, and as I said in prior videos early in the year, I expected value to start doing better relative to growth than it had been before. And that didn’t really much happen in the first and second quarters. But in the third quarter of 2024, that’s largely happened, with the exception of the fact that energy, and I was completely wrong about this, energy has continued to do worse than most value.”

Additionally, Fisher said that initially when the Fed began raising rates in 2022, many thought this would negatively impact growth stocks, a narrative he consistently disagreed with. Now, the sentiment is shifting again, suggesting that central bank rate cuts will benefit value stocks while adversely affecting growth stocks. This shift is logical because value stocks are more reliant on bank financing compared to growth stocks, which have various funding sources.

As short-term interest rates decline relative to long-term rates and banks become more willing to lend, this scenario favors value stocks. Consequently, Fisher anticipates that the trend of value stocks narrowing the gap with growth stocks, seen in the third quarter, will continue into the fourth quarter and throughout much of the next year.

10 Stocks Billionaire Ken Fisher May Never Sell

Our Methodology

This article explores the top ten stock holdings of Fisher Asset Management, based on 13F filings as of Q2 2024. The stocks are arranged in ascending order according to the stake of Fisher Asset Management, as of June 30, 2024.

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10 Best Stocks to Buy According to Billionaire Ken Fisher

10. Exxon Mobil Corporation (NYSE:XOM)

Total Number of Shares Owned: 28,247,682

Total Value of Shares Owned: $3,251,873,263

Number of Hedge Fund Investors: 92

Exxon Mobil Corporation (NYSE:XOM), one of the world’s largest publicly traded energy providers and chemical manufacturers, showcased robust financial performance in Q3 2024, beating both EPS and revenue forecasts. The company’s GAAP EPS came in at $1.92, surpassing estimates by $0.04. Exxon Mobil Corporation (NYSE:XOM) reported impressive revenue of $90.02 billion, outperforming projections by $1.66 billion.

Looking ahead to its January 30, 2025 earnings report, Exxon Mobil Corporation (NYSE:XOM)’s estimated EPS is $1.79, with a revenue forecast of $90.31 billion. Over the last 90 days, analysts have raised the company’s EPS estimate 15 times, underscoring positive sentiment and confidence in its ongoing strong performance.

Exxon Mobil Corporation (NYSE:XOM)’s diversified operations across upstream, midstream, and downstream sectors position it well to weather market fluctuations. As global energy demand rises, particularly in emerging markets, Exxon Mobil Corporation (NYSE:XOM) stands to benefit from increased oil and gas consumption. Additionally, the company’s strategic investments in renewable energy and carbon capture technology demonstrate a commitment to adapting to evolving energy needs and regulatory landscapes.

With ongoing geopolitical tensions impacting oil supply, Exxon Mobil Corporation (NYSE:XOM)’s resilience and strong revenue potential are further amplified. Supported by solid financial results, a focus on shareholder returns, and investments in clean energy, Exxon Mobil Corporation (NYSE:XOM) is poised for sustained success in a dynamic energy environment.

9. Broadcom Inc. (NASDAQ:AVGO)

Total Number of Shares Owned: 22,546,860

Total Value of Shares Owned: $3,619,968,667

Number of Hedge Fund Investors: 130

Broadcom Inc. (NASDAQ:AVGO), a leader in semiconductor and infrastructure software, delivers high-performance chips and software solutions for the tech and telecom sectors. In Q3 2024, Broadcom outperformed revenue expectations with $13.07 billion, exceeding forecasts by $108.35 million, and achieved a normalized EPS of $1.24, beating estimates by $0.03.

Despite a GAAP EPS loss of $0.40, Broadcom Inc. (NASDAQ:AVGO)’s upcoming earnings announcement on December 6, 2024, has analysts projecting strong performance, with a forecasted normalized EPS of $1.39 and revenue reaching $14.09 billion. Over the past 90 days, Broadcom Inc. (NASDAQ:AVGO) has recorded 20 upward EPS revisions, highlighting analyst confidence in its growth trajectory.

Broadcom Inc. (NASDAQ:AVGO) is well-positioned to capitalize on the expanding market for AI technologies. With rising demand for high-performance computing, Broadcom’s semiconductor products are expected to play a significant role in powering AI applications, driving further revenue growth. Additionally, Broadcom’s strong partnerships with major technology companies strengthen its foundation for sustained success.

Parnassus Value Equity Fund stated the following regarding Broadcom Inc. (NASDAQ:AVGO) in its Q2 2024 investor letter:

“During the second quarter, the Fund’s overweight position in the Information Technology sector decreased slightly as we sold our position in Cisco Systems and used most of the proceeds to buy Broadcom Inc. (NASDAQ:AVGO), a leading semiconductor company and provider of custom silicon products. Both stocks provide similar exposure to networking technology, but we believe Broadcom offers more upside from AI infrastructure spend and defensiveness due to its software assets.

Broadcom, a leader in semiconductor and infrastructure software, offers promising AI upside via data center ethernet and custom ASICs and can benefit if the iPhone’s new AI features gain traction this year. Additionally, the strength of its enterprise software assets in VMware, Symantec and CA Technologies could provide defensiveness if enterprise IT spending continues to be muted.”

8. Advanced Micro Devices Inc. (NASDAQ:AMD)

Total Number of Shares Owned: 23,151,197

Total Value of Shares Owned: $3,755,355,818

Number of Hedge Fund Investors: 108

Advanced Micro Devices Inc. (NASDAQ:AMD) is a leading designer of advanced processors and graphics cards for personal computers, data centers, and gaming applications. In Q3 2024, AMD reported solid financial performance, meeting normalized EPS expectations at $0.92 and surpassing GAAP EPS estimates with $0.47, beating projections by $0.06. The company posted revenue of $6.82 billion, exceeding forecasts by $104.33 million, highlighting continued growth momentum.

As Advanced Micro Devices Inc. (NASDAQ:AMD) approaches its next earnings release on January 28, 2025, analysts project a normalized EPS of $1.09 and revenue of $7.55 billion. With 30 upward EPS revisions in the past 90 days, market confidence remains strong in AMD’s growth trajectory.

Advanced Micro Devices Inc. (NASDAQ:AMD) is well-positioned to capitalize on rising demand for artificial intelligence (AI) and machine learning technologies. As industries increasingly invest in AI, AMD’s powerful GPUs are poised to play a key role in powering these innovations, driving further revenue growth. Strategic partnerships with tech giants like Microsoft Corporation (NASDAQ:MSFT) and Alphabet Inc. (NASDAQ:GOOG) boost AMD’s market presence and reinforce the value of its technology.

7. Eli Lilly and Company (NYSE:LLY)

Total Number of Shares Owned: 4,888,710

Total Value of Shares Owned: $4,426,141,743

Number of Hedge Fund Investors: 100

Eli Lilly and Company (NYSE:LLY), a pharmaceutical leader in treatments for diabetes, cancer, and other serious conditions, is well-positioned for growth with a robust pipeline targeting diabetes, cancer, and neurodegenerative diseases. The success of Mounjaro solidifies Eli Lilly’s leadership in diabetes care and positions it to capitalize on the rising demand for obesity management, a rapidly expanding area with limited competition.

Additionally, Eli Lilly and Company (NYSE:LLY) has multiple promising therapies in late-stage clinical trials, which could further accelerate growth. Strategic partnerships with biotech firms enhance Eli Lilly and Company (NYSE:LLY)’s research capabilities and expedite the development of innovative therapies, keeping it at the forefront of medical advancements.

As healthcare systems increasingly prioritize effective chronic disease treatments, Eli Lilly and Company (NYSE:LLY)’s product portfolio aligns well with this trend toward health and wellness. In Q3 2024, Eli Lilly and Company (NYSE:LLY) reported a normalized EPS of $1.18, missing estimates by $0.29, and GAAP EPS of $1.07, falling short by $0.47. Revenue reached $11.44 billion, underperforming forecasts by $679.5 million.

Looking ahead, analysts anticipate a significant rebound in Q4, with a projected normalized EPS of $5.48 and revenue of $14.00 billion. Over the last 90 days, Eli Lilly and Company (NYSE:LLY) has received 19 upward EPS revisions, signaling increased confidence in its strong future performance.

PGIM Jennison Health Sciences Fund stated the following regarding Eli Lilly and Company (NYSE:LLY) in its Q2 2024 investor letter:

Eli Lilly and Company (NYSE:LLY) is a diversified biopharmaceutical company with core franchises in Diabetes, Obesity, Immunology, Neurodegeneration, and Oncology. The company is one of the two global leaders in diabetes with blockbuster products in Trulicity and recently launched Mounjaro (tirzepatide) to serve this large underserved market. To date, the Mounjaro launch is the strongest for any diabetes drug ever launched, which we attribute to off label usage in the obesity indication as well as on label use in diabetes.

We believe the tirzepatide (the generic name for Mounjaro) franchise is also uniquely positioned to grow substantially from here thanks to its recent approval for obesity. To that note, in late 2023, Eli Lilly received approval for tirzepatide in obesity and is commercializing it for obesity under a new brand name, Zepbound. While still early in the launch, uptake has been extremely strong, exceeding that of both Wegovy and Mounjaro at the same timepoint in their launches.

While Alzheimer’s Disease has been a tough market for drug developers, Eli Lilly has breakthrough designation from the food and drug administration (FDA) for donanemab and recently presented Phase III pivotal trial data that positions donanemab as the most efficacious drug in the class. In June, the FDA advisory committee voted unanimously in favor of donanemab as an effective treatment where the benefits outweigh the risks, praising the therapy as innovative. Donanemab was then approved under the brand name Kisunla in early July…” (Click here to see more…)

6. Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM)

Total Number of Shares Owned: 28,407,252

Total Value of Shares Owned: $4,937,464,673

Number of Hedge Fund Investors: 156

Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM), the world’s largest contract manufacturer of semiconductor chips, powers essential technologies across smartphones and data centers. With plans to expand manufacturing facilities in the U.S. and Japan, TSM is well-positioned to capitalize on shifting geopolitical landscapes and drive future growth.

Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM)’s dedication to research and development strengthens its competitive edge, while its strong financial position and substantial cash flow enable ongoing investment in expansion and innovation, even amid economic uncertainty.

In Q3 2024, Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) posted robust results, achieving an EPS of $1.94, beating estimates by $0.15, and recording revenue of $23.63 billion, surpassing forecasts by $338.35 million. Anticipation builds for TSM’s upcoming Q4 earnings on January 10, 2025, with analysts projecting a normalized EPS of $2.17 and revenue of $26.22 billion.

Over the last 90 days, Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) has seen four upward EPS revisions, underscoring strong market confidence in its leadership within the semiconductor industry.

5. Amazon.com Inc. (NASDAQ:AMZN)

Total Number of Shares Owned: 43,780,397

Total Value of Shares Owned: $8,460,561,806

Number of Hedge Fund Investors: 308

Amazon.com Inc. (NASDAQ:AMZN), a global leader in e-commerce and cloud computing, continues to transform consumer shopping and data management with significant investments in artificial intelligence and machine learning. These innovations not only enhance Amazon’s existing services but also open new revenue streams, aligning with the rising demand for AI across industries.

Amazon.com Inc. (NASDAQ:AMZN)’s expansion into the healthcare and grocery sectors further diversifies its revenue, leveraging its logistics and technology strengths. By increasing its presence in pharmacy services and expanding grocery delivery options, Amazon is poised for substantial growth. Additionally, Amazon’s commitment to sustainability and reducing its carbon footprint resonates with eco-conscious consumers, enhancing brand loyalty and driving sales.

In Q3 2024, Amazon.com Inc. (NASDAQ:AMZN) exceeded market expectations with an EPS of $1.43, beating estimates by $0.29, and reported revenue of $158.88 billion, surpassing projections by $1.59 billion. Looking forward to its Q4 earnings announcement on January 31, 2025, analysts anticipate a normalized EPS of $1.46 and revenue of $187.04 billion. With 28 upward EPS revisions in the past 90 days, investor confidence remains high in Amazon.com Inc. (NASDAQ:AMZN)’s continued strong performance and expansive growth potential.

4. Alphabet Inc. (NASDAQ:GOOGL)

Total Number of Shares Owned: 48,620,515

Total Value of Shares Owned: $8,856,226,893

Number of Hedge Fund Investors: 216

Alphabet Inc. (NASDAQ:GOOGL), parent company of Google, specializes in internet-based services, advertising, and artificial intelligence innovation. Google Cloud has seen substantial growth, with Q2 2024 revenues reaching $8.5 billion—a 25% year-over-year increase—as businesses increasingly adopt cloud solutions. With robust infrastructure and advanced technology, Alphabet is well-positioned to capture a growing share of this expanding market.

Alphabet Inc. (NASDAQ:GOOGL)’s strong balance sheet and cash flow enable strategic investments in growth, research and development, and acquisitions, providing a solid foundation to navigate market fluctuations and support ongoing expansion.

In Q3 2024, Alphabet Inc. (NASDAQ:GOOGL) posted impressive results, achieving an EPS of $2.12, beating forecasts by $0.27, and recording revenue of $88.27 billion, surpassing expectations by $2.05 billion. With its Q4 earnings announcement on January 30, 2025, analysts project a steady EPS of $2.12 and revenue of $96.57 billion. Over the last 90 days, Alphabet Inc. (NASDAQ:GOOGL) has received 31 upward EPS revisions, reflecting strong investor confidence in its continued growth and leadership in the tech industry.

Diamond Hill Large Cap Strategy stated the following regarding Alphabet Inc. (NASDAQ:GOOG) in its Q2 2024 investor letter:

“Among our top individual contributors in Q2 were Amazon, Texas Instruments and Alphabet Inc. (NASDAQ:GOOG). Media and technology company Alphabet also continued delivering strong results in its search, YouTube advertising, YouTube subscription and cloud businesses. Shares rose amid an environment that continues favoring mega-cap technology companies.”

3. NVIDIA Corporation (NASDAQ:NVDA)

Total Number of Shares Owned: 93,437,327

Total Value of Shares Owned: $11,543,247,605

Number of Hedge Fund Investors: 179

NVIDIA Corporation (NASDAQ:NVDA) is a powerhouse in GPUs and AI technology, driving advancements across gaming, AI, and autonomous vehicles. The company’s positive outlook is bolstered by its leadership in the AI and machine learning sectors, where its GPUs are crucial for powering advanced applications, positioning NVIDIA to capitalize on the growing adoption of AI solutions across industries.

NVIDIA Corporation (NASDAQ:NVDA)’s data center segment is also experiencing rapid growth, fueled by the rise in AI and cloud computing as organizations migrate to these services, placing NVIDIA to capture a significant share of this expanding market. With a strong financial foundation, NVIDIA continues to invest heavily in research and development, ensuring it remains at the forefront of innovation. Its robust cash flow further enables strategic acquisitions and partnerships to drive accelerated growth.

In Q3 2024, NVIDIA Corporation (NASDAQ:NVDA) surpassed estimates, reporting a normalized EPS of $0.68, beating projections by $0.04, with revenue of $30.04 billion, exceeding forecasts by $1.29 billion. As NVIDIA approaches its Q4 earnings report on November 20, 2024, analysts project a normalized EPS of $0.74 and revenue of $32.94 billion. Over the last 90 days, NVIDIA Corporation (NASDAQ:NVDA) has received 32 upward EPS revisions, reflecting strong investor confidence in its sustained momentum and leadership within the semiconductor industry.

ClearBridge Large Cap Growth Strategy stated the following regarding NVIDIA Corporation (NASDAQ:NVDA) in its Q3 2024 investor letter:

“This focus on consistency also guides our regular trimming of strong performers to manage stock-specific and overall portfolio risk. The quarter saw us continue to trim NVIDIA Corporation (NASDAQ:NVDA), reducing the GPU chipmaker from an active weight in the portfolio to an underweight versus the benchmark. We continue to believe in Nvidia’s 10-year trajectory as hyperscaler and enterprise customers invest in GPU architecture. However, we have reduced our Nvidia position as its valuation now more fully reflects the company’s robust growth path and as estimates have risen to levels that require a very steep growth trajectory to drive further stock appreciation.”

2. Apple Inc. (NASDAQ:AAPL

Total Number of Shares Owned: 57,503,020

Total Value of Shares Owned: $12,111,286,431

Number of Hedge Fund Investors: 184

Apple Inc. (NASDAQ:AAPL) is a leader in consumer electronics, software, and services, renowned for products like the iPhone, Mac, and Apple Watch. While iPhone and iPad sales have softened, Apple’s services division saw impressive growth, generating $23.9 billion in revenue and slightly exceeding analyst expectations. Reflecting confidence in its long-term value, Apple also announced a $110 billion share repurchase program and raised its dividend.

Apple Inc. (NASDAQ:AAPL) is making strides in artificial intelligence (AI) and augmented reality (AR), positioning itself well for growth in these emerging markets. The company’s AI initiatives aim to enrich user experience and product capabilities, while its focus on AR could lead to groundbreaking applications.

With a strong financial foundation, Apple Inc. (NASDAQ:AAPL) is able to invest heavily in research and development, securing its position at the forefront of technological innovation. Substantial cash flow supports its ability to pursue strategic acquisitions and expand its product range.

Apple Inc. (NASDAQ:AAPL) reported strong Q3 2024 earnings, achieving a normalized EPS of $1.64, beating estimates by $0.04, and revenue of $94.93 billion, surpassing projections by $514.17 million. As it approaches its next earnings announcement on January 30, 2025, analysts expect Apple to post a normalized EPS of $2.35 and revenue of $124.40 billion. With six upward EPS revisions over the last 90 days, market sentiment remains positive toward Apple Inc. (NASDAQ:AAPL)’s sustained growth trajectory.

Columbia Contrarian Core Fund stated the following regarding Apple Inc. (NASDAQ:AAPL) in its Q2 2024 investor letter:

“Apple Inc. (NASDAQ:AAPL) – Despite the stock falling after announcing earnings in late May, Apple regained ground toward the end of the quarter, fueled by the company’s long-awaited AI announcement at its annual Worldwide Developers Conference (WDC). At the conference, the company showcased some of its new AI features powered by Apple Intelligence that would be coming to Apple products and also announced a partnership with ChatGPT.

Investors greatly welcomed the announcement of Apple’s AI strategy and the stock surged, passing Microsoft as the world’s most valuable company (although this hallmark wouldn’t last). Beta testing of these new features will be coming later this summer, but the initial promise and excitement looks to be a potential catalyst for an upgrade cycle, as the company looks to persuade users who have had the same smartphone for years to consider an upgrade.”

1. Microsoft Corporation (NASDAQ:MSFT)

Total Number of Shares Owned: 27,267,737

Total Value of Shares Owned: $12,187,315,624

Number of Hedge Fund Investors: 279

Topping our list of the 10 best stocks to buy according to billionaire Ken Fisher is Microsoft Corporation (NASDAQ:MSFT). Microsoft Corporation (NASDAQ:MSFT) is a global technology leader, renowned for its software, cloud services, and artificial intelligence innovations.

Microsoft Corporation (NASDAQ:MSFT) maintains a bullish outlook, fueled by strategic focus on high-growth areas like artificial intelligence (AI), cloud computing, and sustainability. The Azure platform continues to lead the cloud market, while Microsoft’s integration of AI tools, notably Copilot in collaboration with OpenAI, reinforces its position as a frontrunner in AI-powered solutions.

Microsoft Corporation (NASDAQ:MSFT)’s AI advancements are embedded across its product suite, supporting long-term growth as businesses increasingly adopt AI to enhance productivity. Additionally, Microsoft’s sustainability initiatives, including a partnership with Constellation Energy to power data centers with carbon-free energy, align with its goal of achieving net-zero emissions, enhancing both operational efficiency and its environmental reputation.

In Q3 2024, Microsoft Corporation (NASDAQ:MSFT) exceeded expectations with a normalized EPS of $3.30, beating estimates by $0.20, and reported revenue of $65.59 billion, surpassing forecasts by $1.03 billion. As the next earnings report approaches on January 23, 2025, analysts anticipate a normalized EPS of $3.14 and revenue of $68.98 billion. With 24 upward EPS revisions in the past 90 days, Microsoft Corporation (NASDAQ:MSFT) demonstrates strong momentum and sustained investor confidence in its growth potential.

Generation Investment Management Global Equity Strategy stated the following regarding Microsoft Corporation (NASDAQ:MSFT) in its Q2 2024 investor letter:

“Generative AI’s hunger for power has increased disproportionately with its intelligence. According to one estimate, OpenAI’s GPT-4 required 50 gigawatt hours (GWh) of electricity to train, much more than the 1.3 GWh needed for GPT-3.3 And then AI requires even more power when it is put to use (so called ‘inference’). Some of the latest trends worry us. Microsoft Corporation (NASDAQ:MSFT) appears to be slipping in its ESG goals, with its greenhouse gas emissions rising again last year, as it invests in becoming a big player in AI.

It is struggling in particular to curb its Scope 3 emissions in the capital goods category – nowhere more so than in the activity associated with the construction of data centres: both the embedded carbon in construction materials like steel and cement, as well as the emissions from the manufacturing of hardware components such as semiconductors, servers and racks. Google’s emissions have risen by close to 50% in the past five years.

We feel it is worth dwelling on Microsoft for a few moments, since we suspect you will be hearing a lot more about the relationship between AI and sustainability in the coming months. The bottom line is that we continue to see Microsoft as a sustainability leader. In the case of Scope 2 emissions, the company covers 100% of its electricity use with purchases of renewable energy. Crucially, though, the majority of this green energy is directly sourced via power purchase agreements, which bring new renewable capacity to the grid. Microsoft is also committed to operating 24/7 on renewable power by 2030, a policy that will help bring energy storage onto the grid as well…” (Click here to read the full text)

While we acknowledge the potential of Microsoft Corporation (NASDAQ:MSFT), our conviction lies in the belief that under the radar AI stocks hold greater promise for delivering higher returns, and doing so within a shorter timeframe. If you are looking for an AI stock that is more promising than the ones on our list but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

READ NEXT: 8 Best Wide Moat Stocks to Buy Now and 30 Most Important AI Stocks According to BlackRock.

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