The move goes against the one cardinal rule of investing: diversification. Yet Cohen felt strong enough in his choices to take the risk.
While the trades certainly back up Cohen's claim, they haven't yet minted massive profits. He piled into Wells Fargo in the second half of 2017, Bloomberg reported, when shares traded at roughly $54. The stock has since slid alongside most others through the coronavirus pandemic and opened at $31.25 on Friday.
The Chewy founder also bucked tradition by not establishing a so-called family office for his trades. Such private firms have served as the go-to methods for wealthy individuals to manage investments. Should Cohen's foregoing of a family office spark a new trend, private wealth managers stand to lose swaths of profits.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Malaysia Malaysia Latest News, Malaysia Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Look inside a modern Colorado ranch home made of shipping containers - 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. That is so nice!
Source: BusinessInsider - 🏆 729. / 51 Read more »
Record stock rally due to big companies' edge in pandemic: Jim Cramer - 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. The pandemic isn't 'sparing' anything. Money doesn't get sick. We have a HUGE problem...realDonaldTrump and our leaders in Congress and the military need to speak out and speak freely. This is the Nixon moment Lmao the federal reserve is “sparing” big companies; the pandemic still goes on. People are still unemployed.
Source: BusinessInsider - 🏆 729. / 51 Read more »
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 »
Stock market news: Stocks rise on ECB's plan, await US non-farms data - 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. ECB PROJECTIONS FOR GDP DRUKENMILLER SAID WATCH OUT WHEN LIQUIDITY REVERSES
Source: BusinessInsider - 🏆 729. / 51 Read more »