Billionaire Lee Ainslie is looking to ‘take advantage of the panic and volatility’ and his $9 billion hedge fund firm is placing bets on managed care and tech stocks
- Billionaire Lee Ainslie’s Maverick Capital is buying managed-care stocks, as well as “secular winners” in “Chinese internet land” during the market selloff caused by the novel coronavirus.
- The strategy for Ainslie, who recently said at an Economic Club of New York event that he was worried his generation would be remembered for its greed, is to “take advantage of the panic.”
- Alibaba, Google, and Monster Energy made up some of Maverick’s biggest holdings as of the end of 2019.
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Billionaire Lee Ainslie’s Maverick Capital is focused on taking “advantage of the panic” the novel coronavirus has caused in the markets, the hedge fund told investors in a note on Friday.
The firm said in the note, which was originally reported by industry publication ValueWalk, that Maverick has added “great companies/secular winners that were previously priced out of our range (or that were already in our portfolio and sold off for no good reason)” without naming specific stocks. Still, the sectors Maverick highlights shed some light on what companies the roughly $9 billion hedge fund might have invested in.
“We have taken advantage of both political and coronavirus fears to add exposure in …continued .
[Source: Business Insider]