The capital markets have gotten off to a red-hot start in 2024. The Nasdaq Composite index is up nearly 4% so far this year, while the S&P 500 has gained closer to 5% as of market close on April 17.While a small cohort of megacap-technology companies collectively known as the "Magnificent Seven" have played a big role in the market's upward movements.
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Market watchers were beginning to think that nothing could stop the bull market rally, driven by excitement about the possibilities of artificial intelligence (AI). The past couple of weeks has been a stark reminder of the market's tendency for occasional declines before heading higher.For example, after reaching new heights earlier this month, the Nasdaq Composite has fallen about 7%.
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David Einhorn is known for his big bets. It's a strategy that helped make him a billionaire. One of his largest bets right now is Green Brick Partners (NYSE: GRBK). Einhorn's investment company owns more than 11 million shares, representing 29% of his total portfolio.Should you follow Einhorn into one of his biggest bets ever?
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