Greenlight Capital Fund recently released its Q2 2020 Investor Letter, a copy of which you can download here. The fund posted a return of 1.0% for the quarter, underperforming its benchmark, the S&P 500 Index which returned 20.5% in the same quarter. You should check out Greenlight Capital’s 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, Greenlight Capital highlighted a few stocks and Altice Usa Inc. (NYSE:ATUS) is one of them. Altice Usa Inc. (NYSE:ATUS) is a cable television provider based in New York. Year-to-date, Altice Usa Inc. (NYSE:ATUS) stock gained 3.7% and on August 4th it had a closing price of $27.98. Here is what Greenlight Capital said:
“We also exited Altice USA with a 36% gain over two years. The company executed on cost-cutting and growth strategies and repurchased a significant amount of shares at attractive prices. We sold over concern about the 2020 advertising environment and potential broadband regulations.”
In Q1 2020, the number of bullish hedge fund positions on Altice Usa Inc. (NYSE:ATUS) stock decreased by about 13% from the previous quarter (see the chart here), so a number of other hedge fund managers seem to agree with Altice’s downside potential. Our calculations showed that Altice Usa Inc. (NYSE:ATUS) isn’t ranked 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
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Disclosure: None. This article is originally published at Insider Monkey.