Good morning,
You would be an outlier if the current market conditions don't make you at least a little uneasy. 2024 doesn't look like it's going to provide any more clarity than we saw in 2023.
The Federal Reserve may cut interest rates a little, a lot, or not at all.
Recession concerns still hang over the market despite declarations of a soft landing.
And it's an election year, which currently means a volatile year for stocks.
All of that may be enough to keep you on the sidelines. But that could be a mistake.
The key to being a long-term investor is to avoid thinking like a trader. If your investment timeline still has many years to play out, a solid strategy is to own stocks of quality companies, particularly those that pay dividends, and let your money work for you.
In 2024, defensive stocks have gotten out of the gate strongly, and that is likely to remain the case as long as volatility exists.
That's why we urge you to view this special presentation highlighting seven defensive stocks with strong growth opportunities in 2024. Investors can find these stocks across industries, but we've done some of that work for you.
The stocks in this presentation are projected to post solid earnings growth in 2024. Since earnings growth is one of the best predictors of stock price growth, investing in these stocks now is likely to provide you with a solid total return in 2024 and beyond.
View the 7 Defensive Stocks with Strong Growth Opportunities in 2024
Laycee Kluin
MarketBeat
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Investing in stocks can be a bit like playing a game where you try to make your money grow. Imagine you're planting a garden. Some plants, like tomatoes, grow fast in the summer but don't do well when it's cold. Other plants, like carrots, might not grow as fast, but they keep doing okay even when it's a bit chilly. In the world of stocks, we have something similar called "defensive stocks."
Defensive stocks are like those hardy plants in your garden. They don't grow super fast, but they are strong and steady. These stocks come from companies that sell things people always need, like food, electricity, and medicine. Think about it: no matter what's happening in the world, you still need to eat, turn on lights, and take medicine when you're sick. That's why these companies usually do okay, even when times are tough.
Now, imagine a big, exciting roller coaster. It goes up and down really fast and can be thrilling, but also a bit scary. That's like some other stocks that can grow a lot when things are good but can drop quickly when things are not so good. Defensive stocks are more like a gentle merry-go-round. They don't go up and down as much. They're slower, but they're also a lot less scary.
When you're thinking about investing in stocks, it's like packing a backpack for a long hike. You want to have different things with you. Some snacks for quick energy, some water, maybe a map and a flashlight. In the same way, in your stock "backpack," it's good to have a mix. Some stocks that can grow fast (like the tomatoes) and some defensive stocks (like the carrots) that are more steady and reliable.
Another cool thing about defensive stocks is that they often pay dividends. A dividend is a bit like getting a small thank you gift from the company for investing in them. Not all companies do this, but many defensive stocks do because they've been around a long time and make steady money.
So, let's say you have some money you want to invest. You might want to think about including some defensive stocks. They can be a good choice if you don't like too much risk. They might not make your money grow super fast, but they're less likely to lose value suddenly.
Remember, just like in a garden, it's good to have different kinds of plants. In investing, it's smart to have different kinds of stocks. This way, if one part isn't doing so well, you have other parts that can help keep your garden - I mean, your investments - growing. And always remember, investing is for the long term, just like growing a strong and healthy garden.
In summary, defensive stocks are a safer, steadier choice for your investment garden. They're like the hardy plants that might not grow the fastest but can handle different weather. They're a good part of a mix of investments, especially if you want to sleep well at night, not worrying too much about the ups and downs of the stock market.
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