Last Updated on 29/01/2024 by Carl-Peter Lehmann
The 10 Best Shares to Buy to Achieve Financial Freedom. In early 2023, we examined potential investment opportunities within the realms of artificial intelligence, cybersecurity, and clean energy, spotlighting Nvidia, Crowdstrike, and Enphase Energy as our top stocks to buy. As we reflect on their performance and look ahead, it’s clear that while Nvidia (over 200% gain) and Crowdstrike (170% growth) delivered exceptional returns over the last year, Enphase faced challenges (-50%). Overall, not bad.
However, as we step into 2024, it’s essential to approach the market with caution, anticipating potential volatility and adopting a strategy centered around risk management. With everyone getting more bullish, we’re getting more cautious. With that in mind, let’s explore the 10 best shares to buy, each offering a unique combination of resilience, growth potential, and innovation to help pave your path to financial freedom. Investing is also a lot like beauty (in the eyes of the beholder), so these ideas won’t be for everyone and require that you do your own research and due diligence.
This also isn’t to say we’d recommend buying these shares at current price levels, and would need to see a significant market pullback before we’d consider investing in any of these names.
Further Reading: The original article from early 2023 that discusses stocks to buy like Nvidia and Crowdstrike
Top Stocks to Buy Shortlist
As an investor, maintaining a carefully curated list of top stocks to buy is paramount, especially when these selections align with your distinct criteria and investment goals. The shares highlighted here cater specifically to investors who embrace a long-term perspective, aspire to compound their returns well above the average benchmarks like the S&P 500, are resilient in the face of market volatility, and are keen on fast-tracking their path to financial independence.
Further Reading: How to Invest Offshore in 2024 as a South African Investor
1.Nvidia (NVDA)
Continues to be a leader in the AI revolution, building on its legacy as a gaming powerhouse to become an indispensable provider of AI technologies. With a wide-reaching impact across various industries, Nvidia’s sophisticated AI platform and impressive growth trajectory make it a compelling long-term investment, especially as AI becomes increasingly integral in our lives.
2. Microsoft (MSFT)
A staple in the technology sector, Microsoft’s consistent innovation, expansive product ecosystem, and strategic acquisitions (like Activision Blizzard) position it well for sustained growth. Its foray into cloud computing with Azure and significant investments in AI (like its stake in OpenAI’s ChatGPT) and gaming underline its commitment to staying at the forefront of technological advancements.
3. Crowdstrike (CRWD)
Despite market fluctuations, Crowdstrike’s cutting-edge approach to cybersecurity makes it a critical player in an increasingly digital world. With cyber threats on the rise, Crowdstrike’s innovative cloud-native platform and AI-driven threat analysis offer a robust solution for modern cybersecurity needs.
4. Eli Lilly (LLY)
Eli Lilly, a beacon in the pharmaceutical landscape, stands out not just for its established portfolio but also for its trailblazing advancements in medical treatments. The recent approval of their innovative weight loss drug marks a significant milestone, offering substantial potential in a market eager for effective obesity solutions. This breakthrough, coupled with Eli Lilly’s robust pipeline in critical areas like diabetes and cancer, signals a promising horizon for growth. The company’s steadfast commitment to research and development, combined with a proven track record of successful drug approvals, underlines its capacity for sustained progress and enduring impact in the pharmaceutical sector.
5. Visa (V)
As a key facilitator in the global payments industry, Visa’s expansive network and continual investment in technology keep it at the heart of financial transactions worldwide. The shift towards digital payments and cashless societies – and Visa’s ability to adapt and innovate – ensure its place as a long-term player in the financial sector. Its profit margins are also unparalleled, giving it an amazing ability to compound profits consistently over a long period of time.
6. Intuitive Surgical (ISRG)
As a pioneer in robotic-assisted surgery, Intuitive Surgical’s da Vinci surgical systems represent a significant leap in medical technology. With an increasing number of procedures being performed using its technology and a focus on continuous innovation, the company is well-positioned for growth in the evolving healthcare landscape.
7. S&P Global (SPGI)
With its critical role in providing transparent and independent ratings, benchmarks, analytics, and data to the capital and commodity markets, S&P Global stands as a pillar in the financial world. Its diverse portfolio of services and commitment to integrity make it a stable investment with growth potential.
8. The Trade Desk (TTD)
As a leader in the programmatic advertising space, The Trade Desk is capitalizing on the shift towards digital advertising. Its focus on innovation and customer-centric platform, coupled with the increasing importance of targeted and efficient advertising, positions it well for future growth.
9. Lululemon (LULU)
Beyond just an activewear brand, Lululemon represents a lifestyle. With a strong community-based marketing strategy, a focus on high-quality products, and expansion into new categories like menswear and international markets, Lululemon is set to maintain its growth trajectory.
10. MercadoLibre (MELI)
Often hailed as the ‘Amazon of Latin America,’ MercadoLibre stands as a dominant force in e-commerce and online payments across the region. With a comprehensive ecosystem that includes marketplace, logistics, and Mercado Pago, its fintech arm, MercadoLibre is not just capitalizing on the e-commerce boom but is also paving the way for digital financial services in markets with huge growth potential. Its robust platform, continuous innovation, and deep penetration in the Latin American market position it as a formidable contender for long-term growth, making it a compelling investment choice for those looking to diversify internationally.
Summary of the 10 Best Shares to Buy
- In summary, the 10 best shares to buy for 2024 present a diverse and dynamic portfolio, carefully selected to navigate the complexities of the evolving market landscape.
- These companies are not just leaders in their respective industries but are also at the forefront of innovation, ready to capitalize on secular growth trends and drive substantial long-term returns.
- As we venture into 2024, these companies stand out not just for their past achievements but for their potential to shape the future.
- Each embodies a blend of dynamism, resilience, innovation, and growth, making them compelling choices for investors aiming to navigate market uncertainties and tap into long-term growth opportunities.
- As always, you are encouraged to align these opportunities with your personal investment strategy, risk tolerance, and the broader context of a well-structured, holistic financial plan.
Read Next: Our Top Stocks to Buy In the AI Space in 2024 across different technology subsets
Stay Tuned to the Risks
Investing in stocks carries inherent risks, and the performance of these shares can be volatile. Market conditions, global economic factors, and industry-specific challenges can all impact the performance of these investments. It’s essential for you to:
Conduct Thorough Research: Understand the business models, market trends, and financial health of the companies you’re investing in.
Diversify Your Portfolio: While these stocks represent promising opportunities, diversification across different sectors and asset classes can help mitigate risk.
Stay Informed: Keep abreast of market developments, company news, and economic indicators that may impact the performance of these stocks.
Consult a Professional: Consider seeking advice from a financial advisor to align your investment choices with your overall financial goals, risk tolerance, and investment horizon.
Disclaimer:
The information provided in this article is for informational and educational purposes only and does not constitute investment advice, financial advice, trading advice, or any other sort of advice. You should conduct your own research, consider your financial situation, and consult with a professional financial advisor before making any investment decisions. Invest at your own risk.
Futher Reading: Our Top 15 Essential Investing Advice Principles To Ensure You Achieve Success
Carl-Peter Lehmann
Carl-Peter is a Director and Partner at Henceforward. He has over 20 years investment experience and is a CERTIFIED FINANCIAL PLANNER. Helping his clients rethink the possibilities of achieving financial freedom is a topic he is exceptionally passionate about.
