Baron Funds, a New York-based firm founded by Ron Baron (Trades, Portfolio), disclosed last week that its top five trades during the fourth quarter of 2020 included new positions in Opendoor Technologies Inc. (OPEN) and Farfetch Ltd. (FTCH) and reductions in Tesla Inc. (TSLA), Teladoc Health Inc. (TDOC) and American Well Corp. (AMWL).

The firm invests primarily in small- and mid-cap companies through a bottom-up, value-oriented company research discipline. Baron seeks companies that have open-ended growth opportunities and defensive niches; the fund normally holds investments for more than five years on average.

We are pleased to bring you the 40th edition of Graham & Doddsville. This student-led investment publication of Columbia Business School (CBS) is co-sponsored by the Heilbrunn Center for Graham & Dodd Investing and the Columbia Student Investment Management Association (CSIMA).

We first interviewed [url=https://www.gurufocus.com/StockBuy.php?GuruName=Bill+Nygren]Bill Nygren[/url] ([url=https://www.gurufocus.com/StockBuy.php?GuruName=Bill+Nygren]Trades[/url], [url=https://www.gurufocus.com/holdings.php?GuruName=Bill+Nygren]Portfolio[/url]), portfolio manager of the Oakmark Funds at Harris Associates. Mr. Nygren discussed Oakmark's approach to value investing, which looks past traditional GAAP accounting to find businesses whose potential may be understated today. Bill shared with us a few sectors Oakmark finds attractive, as well as his general views on today's markets

According to the GuruFocus All-In-One Screener as of March 25, the following stocks are popular among gurus.

Etsy

The handmade goods retailer Etsy Inc. (ETSY) has a market cap of $4.5 billion. Its revenue of $818 million was flat over the past 10 years.

As of March 25, the stock is trading with a price-earnings ratio of 51.73. The share price of $40.49 is 44.8% below the 52-week high and 35.19% above the 52-week low. Over the past 10 years, the stock has climbed 38%.

The company’s largest guru shareholder is Jim Simons (Trades, Portfolio)’ Renaissance

Legendary investor Julian Robertson (Trades, Portfolio) is not just known for his leadership of Tiger Management, but also for taking a group of protégés under his wing. These student investors, many of whom later opened their own practices, are referred to as “tiger cubs.”

As they were influenced the same teacher, it is no surprise that some of these guru fund managers have similar investing styles and even invest in some of the same stocks. An example of this is Chase Coleman (Trades, Portfolio), who now heads up Tiger Global Management, and Robert

Robert Karr (Trades, Portfolio), founder of New York-based Joho Capital, disclosed three new positions in his first-quarter portfolio, which was released earlier this month.

A former protégé of Tiger Management’s Julian Robertson (Trades, Portfolio), the guru, who now manages a family office, focuses on a concentrated number of investments and specializes in online media stocks. He also has a very low portfolio turnover rate of 17% as of the most recent quarter.

Based on these criteria, Karr’s new buys for the quarter were Microsoft Corp. (MSFT), Spotify Technology SA (SPOT) and TJX Companies Inc.

Online luxury fashion retail platform Farfetch Ltd. (FTCH) has a sound growth strategy that could catalyze its stock price.

The company is focusing on investments in China, which could strengthen its position in the luxury retail market. It is also investing heavily in new technology, while partnerships with major brands could enhance its competitive position.

While the near-term outlook for U.S. and Chinese retail sales is uncertain, the company’s loyalty program may lead to a higher level of differentiation and a wider economic moat.

Having gained 1% in the last six months versus a drop of 1% for the S&P

While Amazon.com Inc. (AMZN) has risen to dominance in virtually all aspects of online retail and e-commerce, there has been one persistent nut it has failed to crack: luxury. Especially luxury resale.

Let’s take a look at the players trying to succeed where Amazon has failed.

Stitch Fix: Personalization through algos and experts

Stitch Fix Inc. (SFIX), a fashion technology e-commerce company, exploded onto the stock market in late 2017 and quickly won over an eager market. The company is carving a particular niche through a specialized fashion-forward business model that focuses on delivering customers packaged collections