#4: Caesars Entertainment
If you think Wall Street is already a casino, why not invest in a casino in a more literal sense via Caesars Entertainment (CZR).
After all, it’s been an awfully profitable trade in 2013, with the stock doubling (and more) in a hurry.
In case you’re unfamiliar, Caesars resorts include Harrah’s, Caesars and Horseshoe brand names both in Vegas and elsewhere in the world. It also owns the World Series of Poker, if you’re a hold ‘em fan.
If the U.S. economy continues to gain momentum and tourists start to open up their wallets more both to take trips and to play the craps table, expect CZR to stay hot. And on a popularity basis, NerdWallet found that Caesars had the greatest ownership among top hedge funds with “14.43% of its shares held by activist investors Soros Fund Management and Paulson & Co.”
Caesars continues to bleed cash, but apparently the hedgies are hoping that brighter skies lay ahead. Just be careful in this one after the big run-up and the fact that CZR continues to operate in the red.