Billionaire David Mark Siegel is the cofounder of Two Sigma Investments. It is a hedge fund with around $60 billion investments. Siegel is a hedge fund manager, investor, and a computer scientist. He completed a PhD degree in computer science. He has been a big fan of computers since his childhood. According to Siegel, one can make better investment decisions while utilizing AI, data and machine learning. In one of his writings for Wall Street Journal, Siegel said that “It may be tempting to take for granted our ability to do each of these well, but don’t be fooled. Using the power of advanced algorithms and huge data sets to uncover valuable economic, behavioural, or market insights takes a classically scientific mind-set. That means basing the entire endeavour—from data collection to trade execution and beyond—on the formulation of carefully crafted hypotheses, followed by a recurring process of measurement, learning, and adjustment.” Being a fan of computers, his Two Sigma Investments hedge fund utilizes AI techniques before making decisions about investment. This article covers Top 5 Stocks Pics by Billionaire David Siegel as shared by Insider Monkey in one of their articles on Yahoo.
One of the top stock picks of Two Sigma is Target Corporation. The hedge fund reduced its investment in the corporation by 25% during the third quarter of last year. As per available data, the hedge fund owns 2.75 million shares of Target. The current total value of investment is $432.95 million. According to sources, Shipt is the major asset of Target Corporation and it can reap huge benefits from it if utilized properly in the days ahead. A report claims that Shipt recorded a growth of 300% during the holidays. Currently, 57 hedge funds have invested in stocks of Target Corporation. Another investment of the hedge fund is Lowe’s Companies Inc. The hedge fund sold 12% of its existing ownership in Lowe’s during the third quarter, last year. As per available data, Two Sigma currently owns 2.65 million shares of the company. These shares are worth $440 million. According to research by Insider Monkey, 83 hedge funds have invested in stocks of Lowe’s Companies Inc. These are some of the stock picks by Billionaire Siegel. Did you find this information interesting? You can read about other stocks at Billionaire David Siegel’s Top 10 Stocks Picks on Yahoo.