Did You Really Miss Buying Amazon (AMZN) Stock? Maybe Not.

Miller Value Partners recently released its Q1 2020 Investor Letter, a copy of which you can download here. The Miller Value Partners Opportunity Equity Fund posted a return of -38.4% for the quarter (net of fees), underperforming its benchmark, the S&P 500 Index which returned -19.6% in the same quarter. 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 Partners highlighted a few stocks and Amazon.com Inc (NASDAQ:AMZN) is one of them. Amazon is a technology company. Year-to-date, Amazon.com Inc (NASDAQ:AMZN) stock gained 43.3% and on June 10th it had a closing price of $2,647.45. Here is what Miller Value Partners said:

“Amazon.com Inc. (AMZN) gained 5.54% as the company benefited from increased online purchases due to stay-at-home orders but struggled to keep up with demand. During the quarter the company announced an effort to hire 100k additional employees to meet demand, a suspension of 3rd party FBA service for non-essential categories, and a temporary stoppage of deliveries in India. The company announced the delay of Prime Day until 3Q from 2Q.”

In Q1 2020, the number of bullish hedge fund positions on Amazon.com Inc (NASDAQ:AMZN) stock increased by about 24% from the previous quarter (see the chart here), so a number of other hedge fund managers seem to agree with AMZN’s growth potential. Our calculations showed that Amazon.com Inc (NASDAQ:AMZN) is ranked #1 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 leave no stone unturned when looking for the next great investment idea. For example, 2020’s unprecedented market conditions provide us with the highest number of trading opportunities in a decade. So we are checking out stocks recommended/scorned by legendary Bill Miller. We interview hedge fund managers and ask them about their best ideas. If you want to find out the best healthcare stock to buy right now, you can watch our latest hedge fund manager interview here. We read hedge fund investor letters and listen to stock pitches at hedge fund conferences. Our best call in 2020 was shorting the market when the S&P 500 was trading at 3150 after realizing the coronavirus pandemic’s significance before most investors. 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.