Billionaire Investor Paul Singer Just Made a Massive Bet Against Nvidia and Tripled His Position in a Stock That Wall Street Analysts Think Can Soar 115%
Paul Singer is not afraid to play contrarian. The billionaire investor is known for his activist positions and even took on the Argentinian government for 15 years until it made debt payments on government bonds, resulting in billions for Singer's fund Elliott Investment Management.Singer, who's reportedly worth $6.2 billion, according to Forbes, founded Elliott in 1977 and has grown it to $65 billion in assets under management. Now, the 80-year-old is raising the red flag on the broader market and some of the high-flying artificial intelligence (AI) stocks that have fueled the bull run such as Nvidia (NASDAQ: NVDA). Instead, Elliott has tripled its position in a stock that Wall Street thinks can soar 115% from current levels (as of Feb. 27).Continue reading
Paul Singer is not afraid to play contrarian. The billionaire investor is known for his activist positions and even took on the Argentinian government for 15 years until it made debt payments on government bonds, resulting in billions for Singer's fund Elliott Investment Management.
Singer, who's reportedly worth $6.2 billion, according to Forbes, founded Elliott in 1977 and has grown it to $65 billion in assets under management. Now, the 80-year-old is raising the red flag on the broader market and some of the high-flying artificial intelligence (AI) stocks that have fueled the bull run such as Nvidia (NASDAQ: NVDA). Instead, Elliott has tripled its position in a stock that Wall Street thinks can soar 115% from current levels (as of Feb. 27).
