Longtime investor Ron Baron believes investors are presented with a once-in-a-lifetime buying opportunity after shares plunged into a bear market on fears of a recession. “I hope you can get someone or a lot of people to tell your viewers that this is a HUGE BUY OPPORTUNITY once in a generation,” Baron said in an email sent to CNBC’s Becky Quick and Joe Kernen. “Huge monstrous opportunity after June 2022 crash (ALSO June 2020)!” The S&P 500 plunged into a bear market earlier this week as recession fears deepened along with the Federal Reserve’s most aggressive rate hike since 1994. The equity benchmark is now almost 24% below its all-time high in January. All 11 sectors are at least 15% off their recent highs. Baron Capital’s CEO said the stock market has performed modestly over the past two decades, although economic expansion has been impressive thanks to innovative technology. “Talked to my sons last night. They’ve been in our business for about twenty years. Since graduating college with a two-year break for MBAs,” Baron wrote. “Wars since… bursting of internet bubble… financial panic 08-09… Covid pandemic… commodity inflation… and modest progress in stock markets. A little more than doubled. 22 years of material and acceleration fueled by technological and biological advances!” Baron, whose funds held more than 4.6 million Tesla shares early last year, said he had told his sons the opportunity is now as great as it was when Founded his company 40 years ago and that growth stocks are poised for outsized gains.”I told them they have the same opportunity now as when Baron Capital was founded on March 16, 1982 and the Dow Jones was 880 !After 16 years with no progress on market averages,” Baron said. “Especially now that we now have investments in incredible growth companies like Tesla and SpaceX and many, many, many others.” nearly $49 billion.
