Chewy's founder piled most of a $3.4 billion fortune into just 2 stocks after selling the company
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.
Brasil Últimas Notícias, Brasil Manchetes
Similar News:Você também pode ler notícias semelhantes a esta que coletamos de outras fontes de notícias.
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.
Consulte Mais informação »
Seven people found dead inside burning house in AlabamaVALHERMOSO SPRINGS, Ala. (AP) — Deputies responding to a call about a shooting in Alabama early Friday found seven people dead inside a home and the house on fire, news outlets...
Consulte Mais informação »
Seven people found dead inside burning house in AlabamaDeputies were able to put out the fire before firefighters got to the scene, and that’s when they found seven adults dead in the house.
Consulte Mais informação »
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.
Consulte Mais informação »
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.
Consulte Mais informação »
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.
Consulte Mais informação »