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Is Salesforce.com (CRM) a Smart Long-term Buy?

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Alex Smith
·3 min read
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Alger Spectra Fund recently released its Q3 2020 Investor Letter, a copy of which you can download here. Class A shares of the Alger Spectra Fund outperformed the Russell 3000 Growth Index during the third quarter of 2020. You should check out Alger Spectra Fund's top 5 stock picks for investors to buy right now, which could be the biggest winners of 2021.

In the Q3 2020 Investor Letter, Alger Spectra Fund Fund highlighted a few stocks and Salesforce.Com Inc. (NYSE:CRM) is one of them. Salesforce.Com Inc. (NYSE:CRM) is a software company. Year-to-date, Salesforce.Com Inc. (NYSE:CRM) stock gained 36.8% and on December 29th it had a closing price of $222.46. Here is what Alger Spectra Fund said:

"Salesforce.com is a leading software-as-a-service company with turnkey salesforce productivity and customer relationship management applications as well as a cloud-based development environment. Increased spending on technology by corporations digitizing their business models supported the performance of salesforce.com shares. We believe the return on investment (ROI) from deploying salesforce.com technology is compelling because the company's products make enterprises more productive and profitable while fostering growth. This attractive ROI has resulted in the company's continuing high unit volume growth."

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Copyright: drserg / 123RF Stock Photo

Earlier this week, we published an article revealing that Salesforce.Com Inc. (NYSE:CRM) was one of the 5 best Dow stocks to buy now based on their performance and their popularity among smart money investors.

In Q3 2020, the number of bullish hedge fund positions on Salesforce.Com Inc. (NYSE:CRM) stock decreased by about 1% from the previous quarter (see the chart here), so a number of other hedge fund managers don't believe in Salesforce's growth potential. Our calculations showed that Salesforce.Com Inc. (NYSE:CRM) is ranked #16 among the 30 most popular stocks among hedge funds.

The top 10 stocks among hedge funds returned 216% since the end of 2014 and outperformed the S&P 500 Index ETFs by more than 121 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

At Insider Monkey we scour multiple sources to uncover the next great investment idea. For example, Federal Reserve has been creating trillions of dollars electronically to keep the interest rates near zero. We believe this will lead to inflation and boost real estate prices. So, we recommended this real estate stock to our monthly premium newsletter subscribers. We go through lists like the 10 most profitable companies in the world to pick the best large-cap stocks to buy. Even though we recommend positions in only a tiny fraction of the companies we analyze, we check out as many stocks as we can. We read hedge fund investor letters and listen to stock pitches at hedge fund conferences. You can subscribe to our free daily newsletter on our website:

Disclosure: None. This article is originally published at Insider Monkey.