Billionaire Dan Loeb Has 23% of His Portfolio Invested in 3 AI Stocks (Hint: Not Nvidia)

Dan Loeb is the founder and CEO of Third Point, an institutional asset manager whose flagship Offshore Fund has returned 13.1% annually since its inception in 1996. Meanwhile, the S&P 500 (SNPINDEX: ^GSPC) has returned 9.4% annually during the same period.Loeb is "one of the most successful hedge fund managers of his generation," according to The Wall Street Journal. And while Third Point underperformed in 2022 and 2023, its long-term outperformance makes Loeb a good case study for investors.Loeb has compared artificial intelligence (AI) to disruptive technologies like the internet and smartphones, and AI a prevalent theme in his investments. Somewhat surprisingly, Third Point does not have a position in Nvidia, but it did have 23.1% of $8.7 billion portfolio invested in three AI stocks as of June:Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool