Billionaires Are Selling Philip Morris International and Loading the Boat on This "Magnificent Seven" Stock

It's understandable why retail investors might see a hedge fund making a big new investment in a company and get excited about that stock. After all, billionaire hedge fund managers are generally viewed as the best stock pickers on Wall Street, and some of them even have the track records of investment returns to back that premise up.But retail investors must remember that, in general, they're finding out about these trades a few months after they occur, and many hedge funds invest for short-term time horizons. That's why retail investors must always conduct their own due diligence to make sure it still makes sense to buy a given stock.However, if several billionaire hedge fund managers are buying or selling the same stock, it can be a clear indicator that it's at the very least time to take a look at following their lead. In the third quarter, a number of billionaires sold their stakes in Philip Morris International (NYSE: PM) and loaded up on one "Magnificent Seven" stock.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool