Blue Tower Asset Management’s recently released its Q3 2020 Investor Letter, a copy of which you can download here. The fund posted a return of 10.4% for the quarter, outperforming the S&P 500 Index which returned 8.9% in the same quarter. You should check out Blue Tower Asset Management’s top 5 stock picks for investors to buy right now, which could be the biggest winners of this year.
In the said letter, Blue Tower Asset Management highlighted a few stocks and Fonar Corp (NASDAQ:FONR) is one of them. Fonar Corp (NASDAQ:FONR) is a diagnostic imaging centers company. Fonar Corp (NASDAQ:FONR) stock lost 2.5% and on November 10th it had a closing price of $19.19. Here is what Blue Tower Asset Management said:
"Fonar has been a successful investment for us, and we closed out our position at $24.99 per share, a significant appreciation from our average purchase price. In the five weeks since our liquidation, Fonar stock has fallen almost 20%. If it falls to a sufficiently attractive price, we may repurchase it."
In Q1 2020, the number of bullish hedge fund positions on Fonar Corp (NASDAQ:FONR) stock remained unchanged from the previous quarter (see the chart here). Our calculations showed that Fonar Corp (NASDAQ:FONR) isn't ranked among the 30 most popular stocks among hedge funds.
The top 10 stocks among hedge funds returned 185% since the end of 2014 and outperformed the S&P 500 Index ETFs by more than 109 percentage points. We know it sounds unbelievable. You have been dismissing our articles about top hedge fund stocks mostly because you were fed biased information by other media outlets about hedge funds' poor performance. You could have doubled the size of your nest egg by investing in the top hedge fund stocks instead of dumb S&P 500 ETFs. Below you can watch our video about the top 5 hedge fund stocks right now. All of these stocks had positive returns in 2020.
Video: Top 5 Stocks Among Hedge Funds
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Disclosure: None. This article is originally published at Insider Monkey.