An investment adviser with historic ties to Warren Buffett likely scored a $900 million gain on Wayfair stock in less than 10 weeks | Markets Insider

The purchases meant it owned 5.2 million Wayfair shares, or 5.5% of the company, at the end of March. Wayfair stock has skyrocketed 230% since then, lifting the value of RCG's stake from about $280 million to $920 million.Mitch Rubin's fund has used a unique approach to reap 26% returns and double client assets this year. He breaks down his 3-part process for deciding which stocks to buy — and what to bet against.

RCG also bet on Wayfair via the Sequoia Fund, the $3 billion mutual fund it manages. Sequoia took a position in the e-commerce group in the third quarter of 2019, then almost doubled its stake to 1.9 million shares by the end of March,The upshot is that the combined value of RCG's direct investment and its Sequoia Fund bet has soared from roughly $380 million to $1.25 billion — an $870 million gain in less than 10 weeks..

On howuch investment? 10B?

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Stock market crash coronavirus: Insider account from Bank of England - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web.
Source: BusinessInsider - 🏆 729. / 51 Read more »

Dow futures rise ahead of week’s final test for stock market — Friday’s jobs reportU.S. stock-index futures point to modest gains on Friday, as investors look toward a labor-market report that could reflect soaring unemployment even as the... The markets don’t care about Main Street....📈📈📈📈📈 Wall Street
Source: MarketWatch - 🏆 3. / 97 Read more »