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2 ‘Strong Buy’ Stocks From the Billionaire Who Beat the Bear Market and Broke a Record Last Year

2 'Strong Buy' Stocks From the Billionaire Who Beat the Bear Market and Broke a Record Last Year

2022 was a miserable one for investors, right? For most that’s probably true but most definitely not for Ken Griffin. The billionaire not only beat the market by a huge margin and outpaced his fellow billionaire colleagues, he did so at record-breaking levels. Per LCH investment data, Griffin’s hedge fund Citadel raked in profits of $16 billion – the most ever seen on Wall Street – whilst delivering for investors returns of 38% from its main hedge fund.

Considering that performance, for investors looking to get an edge in the market, it makes sense to keep a tab on Griffin’s purchases.

We’ve gotten that job started and have tracked down two stocks Griffin was been busy buying last year. But he’s not the only one showing confidence in these names. According to the TipRanks database, both are also rated as Strong Buys by the analyst consensus. Let’s see why the experts think they make good investment choices right now.

Palo Alto Networks, Inc. (PANW)

It goes without saying, cybersecurity is an essential need in the modern world, so it is hardly surprising to learn Griffin has been showing a strong interest in one of the segment’s big names.

Palo Alto Networks is a leader in cyber security solutions. These range from its flagship next-generation firewalls to zero trust network protection, security analytics, and automation, amongst other products. The company also offers professional, educational, and consulting services with three separate platforms – Network Security, Cloud Security, and Security Operations – forming the basis of its operations.

Despite the challenging macro, Palo Alto put in a strong showing in its most recent quarterly update for the fiscal first quarter of 2023 (October quarter).

The company beat Street expectations on both the top and bottom lines. Revenue saw a 24.8% year-over-year increase to reach $1.56 billion, trumping the Street’s forecast by $10 million, as billings climbed by 27% from F1Q22 to $1.7 billion. PANW reported adj. EPS of $0.83, handsomely beating analyst expectations of $0.69.

It’s the kind of performance that will no doubt please Griffin. During Q3, Citadel bought 1,103,104 PANW shares, increasing the fund’s stake in the company by 166%. It currently holds 1,767,784 shares, valued at $264 million at the current share price.

Meanwhile, Morgan Stanley’s Hamza Fodderwala has been laying out the bull case even in the face of global economic…

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