Billionaire investor Ron Baron said he has been picking up bargains as the market rebounded from its turmoil in June. The Baron Capital Chairman and CEO was one of the few on Wall Street that correctly called the big comeback in stocks. On June 17, Baron told CNBC that this was a once-in-a-lifetime buying opportunity , and it was the day the S & P 500 hit its 52-week low. The equity benchmark has since rebounded 14% from that bottom. “This is an opportunity that started then and continues now,” Baron said on CNBC’s “Squawk Box” Thursday. “I can’t tell you this was the bottom. Who knows. But the bottom line is that these are all really attractive prices, really attractive time and we’ve been buying then, buying since and buying continuously.” The widely followed investor said he’s been buying companies with great growth potential to hedge against soaring inflation, instead of the traditional vehicles like commodities. “We’re investing in growth companies that are our hedge against inflation. We’re not investing in commodities or bitcoin or gold,” said Baron. “We’re just investing in companies growing more than the economy.” Baron said he has been buying shares of medical apparel company Figs in recent months. He called the company the “Lululemon of health care,” referring to one of the fastest growing apparel stocks of the past decade. The investor said he remains a longtime bull in Tesla . Meanwhile, he revealed that his biggest purchases in the past two months included $100 million worth of SpaceX investments. “I love Tesla. We’ve been investing in Tesla for eight years now. We’ve made about 20 times our money,” said Baron. “I think in the next 10 years, Tesla is going to be the largest company in the world and in the 10 years after that it will be challenged by SpaceX.”
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