Billionaire Philippe Laffont Sells a Popular AI Stock and Buys the S&P 500's Worst Stock. Does He Know Something Wall Street Doesn't?
Hedge fund manager Philippe Laffont recently trimmed his stake in Meta Platforms and bought stock in The Trade Desk.Billionaire Philippe Laffont is the founder and portfolio manager at Coatue Management, a hedge fund that nearly tripled the returns of the S&P 500 (^GSPC -0.05%) in the last three years. That makes him a good role model for individual investors.Laffont made some interesting trades during the second quarter. He sold 76,900 shares of Meta Platforms (META 0.70%), a popular artificial intelligenc ...