Widely followed investor Dan Niles on Tuesday revealed his top stock picks for 2024, including one of 2023's top performers.
The founder and senior portfolio manager of the Satori Fund selected two names from the so-called Magnificent Seven mega-cap tech stocks as his favored shares for the new year — Amazon and Meta Platforms .
META 1Y mountain Meta shares 1-year chart ETFs The hedge fund investor is also bullish on SPDR S & P Biotech ETF (XBI), which tracks more than 120 biotech companies.
The investor said the top holdings in KWEB — Baidu , Alibaba and Tencent — are so much cheaper than mega-cap names in the Magnificent Seven.
"You can buy them at 13 times P/E off 24 numbers for comparison, The Magnificent Seven, you're paying 34 times," he said.
Persons:
Dan Niles, Satori, Niles, Apple, they're, we've
Organizations:
Satori Fund, Apple, Barclays, CNBC, Meta, P Biotech, KraneShares CSI China Internet, Baidu