Published on 30 May 2024 on Insider Monkey via Yahoo Finance
Is Amazon (AMZN) the Best Large-Cap Stock AI Stock Pick of Billionaire Dan Loeb?
We recently published a list of 7 Best Large-Cap Stocks to Buy in 2024 According to Billionaire Dan Loeb.
Since Amazon is part of Loeb's top large-cap stock picks, the stock deserves a detailed look. But first let's see the latest performance of the billionaire.
Activist investor and billionaire Dan Loeb made a comeback in the final quarter of 2023 after losing money during most of the year in addition to suffering losses in 2022. Wall Street Journal earlier this year reported that Loeb’s Third Point, which he founded in 1995, gained between 7.8% to 8.6% in the December quarter. Third Point was also down 21% in 2022. Third Point was a star performer in the pandemic year as the fund closed 2020 up 19%, as Loeb foresaw the economy doing much better than many had expected.