The Wall Street Journal - Ryan Cohen is the face of an investing revolution that captivated amateur

Ryan Cohen is the face of an investing revolution that captivated amateur traders, punished Wall Street and favored memes over fundamentals. But most of his fortune is tied up in conservative bets such as Apple, Netflix and Citigroup.⁠⁠The 37-year-old billionaire made his money through online pet retailer Chewy, but gained fame during the period of market frenzy involving Reddit’s WallStreetBets forum last year, when he used a stake in struggling videogame retailer GameStop to push out the executive team and become chairman. His enigmatic tweets helped his investment gain viral popularity as a so-called meme stock and motivated his followers to seek revenge against professional traders who had bet against the company.⁠⁠The GameStop bet of roughly $1 billion represents less than half of Cohen’s more than $2.5 billion net worth, according to people familiar with the matter. The vast majority of his portfolio is tied up in roughly 10 stocks. These holdings include passive stakes in big, brand-name companies that could also be found in the brokerage account of any prudent retiree.⁠⁠Cohen, in his first set of interviews since the meme-stock mania, said he doesn’t invest in venture capital, private equity, hedge funds, bonds or cryptocurrencies. His investment strategy borrows from models established by two legends of the finance world: value investor Warren Buffett and corporate agitator Carl Icahn. ⁠⁠Thousands of individual investors continue to scour Cohen’s social media posts for clues about where GameStop or stock might be headed. For example, many interpreted a photo he tweeted last year, featuring him with chopsticks up his nose and split between his nostrils, as a hint about GameStop’s forthcoming stock split.⁠⁠Cohen’s tweets are a demonstration of his personality, he said. “I’m just being me: I’m just being myself.” He added: “I don’t want to speculate on how people interpret it.”⁠⁠Read more at the link in our bio.⁠⁠📷: Anastasia Samoylova for
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