Billionaire Chewy Founder Buys Only Two Stocks
What’s up my friends! I hope you’re doing well.
This post is all about a Billionaire Chewy Founder Buys Only Two Stocks! Let's take a look how it worked out for him and if you should consider doing the same thing. Ryan Cohen who is known as the billionaire founder of Chewy and also known for investing in just 2 stocks. For those that don’t know, Chewy is an online pet retailer. You can pretty much get anything you need from there for your pets in two-day shipping. It’s almost the Amazon of the pet world! I personally love Chewy for my dog!
Anyways, back to the important stuff!
When founder Ryan Cohen sold Chewy for 3.35 billion to PetSmart in 2017, some may think he’d invest his proceeds into a diversified portfolio and sail off into the sunset. However, Ryan had a different idea and decided to invest his fortune into two stocks, Apple & Wells Fargo. You may be thinking that’s insanely stupid of him to do so because we’re taught not to put all of our eggs in one basket, but Ryan is looking like a genius right now. Okay maybe not a genius, but he’s definitely a happy man. While, Wells Fargo is down roughly 54% since 2017, Apple is up over 200%. So let’s just hypothetically say he invested half of his proceeds from the Chewy sale into Wells Fargo and half into Apple. This is likely not the case, but let’s just look at it to see how he’d fare.
His Wells Fargo stock value is down around $768 million now, but his Apple stock value is up around $5 billion! So this means his initial investment of 3.35 billion is now near 6 billion!
Now given my calculations were based on the beginning of 2017 instead of July of 2017, so they are a little bit inflated, but you still get the point!
Some will say he got lucky with Apple, but luck or not, that would be an incredible return on his money and his investments have made him an even bigger fortune. The now 34 year old acknowledged that his investing strategy isn’t for the faint of heart. He claims he's aiming for a homerun and doesn’t swing for singles. Gotta give him props because he has bigger balls than Santa who only comes once a year!
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