Billionaire Israel Englander Is Selling Nvidia and Palantir and Buying a New Stock That Wall Street Thinks Can Soar as Much as 151%

Billionaire hedge fund manager Israel Englander co-founded Millennium Management in 1989 with $35 million. Today, Millennium has over $70 billion in assets under management and is one of the world's largest hedge funds. Englander has done well and has one of the best investing minds in the game. That's why investors anxiously await Millennium's quarterly 13F filing, a form required by the Securities and Exchange Commission (SEC) disclosing a fund's holdings.Investors should understand that Millennium is a "pod shop," which means it allocates capital to different teams (or "pods") that all have their own strategies and a lot of autonomy. So, an investment at Millennium may not have come directly at Englander's order. However, as the CEO, Englander likely still has a certain amount of control and a hand in big hiring decisions, so he certainly has faith in his portfolio managers. So don't follow these managers blindly -- but they can serve as sources for picking up new ideas and checking investment theses.In the third quarter, Millennium sold large portions of its stakes in artificial intelligence (AI) companies Nvidia (NASDAQ: NVDA) and Palantir (NYSE: PLTR) and bought a new stock that Wall Street thinks can soar.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool