Though investors of a different variety – such as Roaring Kitty of the GameStop (NYSE: GME) meme stock craze fame – have become increasingly popular in recent years, old-school investing legends have retained their prominent position among stock market aficionados.
Stock picks of both the ‘The Big Short’s’ Michael Burry and for The Oracle of Omaha Warren Buffett remain closely watched by savvy traders, and looking at some of their best-performing investments in 2024, it becomes self-evident why.
Due to his historical and current successes, Finbold decided to take a look at three Warren Buffett stocks that have vastly outperformed the benchmark S&P 500 stock market index since the year started.
Picks for you
Louisiana-Pacific Corp (NYSE: LPX)
The Louisiana-Pacific Corp (NYSE: LPX) is the third best-performing Warren Buffett stock of 2024. The building materials manufacturer managed an impressive 29.03% rise since January 2 and LPX price today stands at $89.97.
Louisiana-Pacific’s past performance, however, does not guarantee the stock will continue growing in the second half of 2024. Indeed, Wall Street analysts are on the fence about its prospects in the coming 12 months, and the stock boasts a ‘neutral’ rating on TradingView.
Despite this, the overall price target for LPX would, if reached, constitute a rise of another 2.38% for the firm.
Finally, despite its 2024 successes, Louisiana-Pacific constitutes only a minor holding in the Buffett portfolio and accounts for a mere 0.2% of its value.
Davita Inc (NYSE: DVA)
Davita Inc (NYSE: DVA) – a kidney dialysis service provider – represents the second best-performing stock in the portfolio of The Oracle of Omaha in 2024. The company managed a significant 33.95% rise in the year-to-date (YTD) chart, and DVA stock price today stands at $143.18.
Much as is the case with LPX, Wall Street experts are not convinced Davita will continue growing in the second half of the year. Indeed, the stock boasts a ‘neutral’ rating, though the average price target would see it rise another 2.02%.
DVA is, however, a significantly larger element of the Buffett portfolio and accounts for approximately 1.5% of its value.
Nu Holdings Ltd (NYSE: NU)
Nu Holdings (NYSE: NU) – a Sao Paulo-based Brazillian neobank – is by far the best-performing Warren Buffet stock of 2024. Since the stock market opened on January 2, NU shares have risen 45.52% and Nubank price today stands at $11.84.
Additionally, analysts are cautiously bullish about NU’s prospects in the coming 12 months, and the bank’s stock is, on average, rated as a ‘buy’ on TradingView. Despite this, the overall price target for the company remains relatively conservative as it forecasts a 3.48% upside.
Nubank, despite being famous for being backed by Buffett since before its initial public offering (IPO), constitutes only 0.4% of the famous investor’s portfolio.
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Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.
