Billionaire fund manager Ron Baron has overseen decades of stellar returns, in large part because he is an optimist.
Baron Capital
Billionaire money manager Ron Baron has overseen decades of stellar returns, in large part because he is an optimist. He has remained steadfastly bullish in his approach to long-term investing in stocks, which have risen greatly since he started his fund 40 years ago. The mutual fund manager he started with $10 million under management in 1982, Baron Capital, now oversees roughly $50 billion in some 19 funds.
Despite this year’s market turmoil, Baron remains undeterred, with the buy-and-hold investor still predicting massive returns on some of his biggest bets. A longtimebull, he has a staggering 45% of one of his largest funds invested in the electric vehicle maker’s stock, even after shares have struggled this year, down nearly 44%. While Baron’s investment in Tesla has reaped huge profits over the years, 2022 has proved more difficult amid the broader market selloff.
When I first got started, it was about what a business was worth. It was based on what I thought a business was worth and then buying it at a discount to that. I bought a bunch of stocks like that—most of them worked out fine, but the ones that didn’t were just terrible investments and I couldn’t get out of them. So I said, that doesn’t sound like a very good idea.
FORBES: What is the biggest risk investors face, either from a broad strategy standpoint or from a current investment environment standpoint?The biggest risk for investors right now is that they think because they’re smart, they can predict politics, the stock market or oil prices, for example. They think all they have to do is buy or sell stock to be successful, but that’s not true. When people are investing, they shouldn’t think they are going to make money on investments immediately.
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