Los Angeles Angels owner Arturo Moreno spoke with Forbes about what he’s been buying—and holding—during the market downturn: lots of cash, real estate and dividend stocks.
Baseball mogul Arturo Moreno first bought Alphabet and Amazon stock six years ago, after his daughter “convinced” him to invest in the two tech heavyweights. As equity valuations tumbled in recent weeks, Moreno saw a buying opportunity. In May, he bought 3,000 additional shares of Alphabet, growing his stake to 13,000 shares—now worth about $31 million. Moreno also loaded up on more Amazon shares; he holds a $9 million stake in the e-commerce retailer.
“I like the everyday use of these products,” Moreno told Forbes, explaining his common-sense approach to investing. “How do you go through a day without using Google? And it seems like we get a present from Amazon on our doorstep every day.”
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