Forbes Finance & Investing Awards 2020: Here Comes The Biden Bull Market

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Here are our choices for the best firms and investors of 2020:

e had it all this year: a global pandemic, a bitter presidential election and one of the fastest market plunges in a century. There was unbelievable uncertainty throughout most of the year, but amid it all, everyone on Wall Street—from billionaire investors to hidebound millennial day traders in their pajamas—got rich. Financial markets dropped like a stone early in the Covid-19 crisis and then recovered nearly 50% in a span of months, one of the fastest rebounds ever seen.

Then the inmates took over the asylum. Armed with free trading apps, retail investors bought stocks and options like never before, leading to skyrocketing values in the most speculative parts of the market. Tesla gained about half a trillion dollars in value. As the ducks began to quack, bankers and billionaires did everything they could to feed them.

Managed by Edinburgh-based Baillie Gifford, this investment trust is a tremendous bargain. For a 0.36% fee, you get a portfolio of stocks managed by the world’s best stock-picking firm and exposure to dozens of valuable private startups. Its investments in Tesla, Amazon, Tencent and a few dozen high-growth stocks have propelled it to a 400% gain over the past five years.

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