Miller Value Partners recently released its Q2 2020 Investor Letter, a copy of which you can download here. In the second quarter, the Miller Income Strategy fund returned 21.7% versus 9.6% for the unmanaged benchmark. You should check out Miller Value Partners’ top 5 stock picks for investors to buy right now, which could be the biggest winners of the stock market crash.
In the said letter, Miller Value highlighted a few stocks and Chemours Co (NYSE:CC) is one of them. Chemours Co (NYSE:CC) is a chemical company. Year-to-date, Chemours Co (NYSE:CC) stock gained 18.0% and on August 13th it had a closing price of $21.34. Miller Value cared to mention Chemours Co (NYSE:CC) in its investor letter, though they didn’t say why they really like the stock. All they said is this:
“The Chemours Co (CC) rose 76.8% during the quarter after reporting Q1 earnings before income, taxes, depreciation and amortization (EBITDA) of $257M, topping consensus of $218M by 18% on margins of 19.7% (consensus of 16.5%). Earnings Per Share (EPS) of $0.71 topped estimates of $0.45 by 58% and nicely covered the quarterly dividend of $0.25/share (6.4% annualized yield). Free cash flow of $(62)M improved $115M Year-over-Year (Y/Y) with total liquidity of $1.4Bn as of quarter end. Management withdrew Fiscal Year 2020 (FY20) guidance due to demand uncertainty in certain end markets.”
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This isn’t the first time Miller Value talked about Chemours Co (NYSE:CC) favorably either. The investment firm has been a long time Chemours Co (NYSE:CC) bull. In June, we shared Miller Value’s bullish Chemours Co (NYSE:CC) thesis in this article.
In Q1 2020, the number of bullish hedge fund positions on Chemours Co (NYSE:CC) stock increased by about 10% from the previous quarter (see the chart here), so a number of other hedge fund managers seem to agree with Chemours’ growth potential. Our calculations showed that Chemours Co (NYSE:CC) isn’t ranked among the 30 most popular stocks among hedge funds.
The top 10 stocks among hedge funds returned 185% since the end of 2014 and outperformed the S&P 500 Index ETFs by more than 109 percentage points. We know it sounds unbelievable. You have been dismissing our articles about top hedge fund stocks mostly because you were fed biased information by other media outlets about hedge funds’ poor performance. You could have doubled the size of your nest egg by investing in the top hedge fund stocks instead of dumb S&P 500 ETFs. Below you can watch our video about the top 5 hedge fund stocks right now. All of these stocks had positive returns in 2020.
Video: Top 5 Stocks Among Hedge Funds
At Insider Monkey we scour multiple sources to uncover the next great investment idea. Cannabis stocks are roaring back in 2020, so we are checking out this under-the-radar stock. We go through lists like the 10 most profitable companies in America to pick the best large-cap stocks to buy. Even though we recommend positions in only a tiny fraction of the companies we analyze, we check out as many stocks as we can. We read hedge fund investor letters and listen to stock pitches at hedge fund conferences. If you want to find out the best healthcare stock to buy right now, you can watch our latest hedge fund manager interview here. You can subscribe to our free enewsletter below to receive our stories in your inbox:
Disclosure: None. This article is originally published at Insider Monkey.
