While new types of investors, like Roaring Kitty from the GameStop meme stock craze, have gained popularity in recent years, traditional investing icons continue to hold a significant place in the hearts of stock market enthusiasts. The stock picks of Michael Burry from ‘The Big Short’ and Warren Buffett, known as The Oracle of Omaha, are closely monitored by savvy traders for good reason – their investments have proven to be highly successful in 2024.
Finbold took a closer look at three Warren Buffett stocks that have outperformed the benchmark S&P 500 stock market index since the beginning of the year.
Louisiana-Pacific Corp (NYSE: LPX)
Louisiana-Pacific Corp (NYSE: LPX) has been the third best-performing Warren Buffett stock of 2024. This building materials manufacturer has seen an impressive 29.03% increase since January 2, with the current price standing at $89.97. While past performance is not a guarantee of future success, Wall Street analysts have mixed opinions on its prospects for the rest of the year, giving it a ‘neutral’ rating on TradingView. Despite this, if the overall price target for LPX is reached, it could see a further 2.38% rise.
Davita Inc (NYSE: DVA)
Davita Inc (NYSE: DVA), a kidney dialysis service provider, is the second best-performing stock in Warren Buffett’s portfolio in 2024. With a significant 33.95% rise year-to-date, the current price is $143.18. Like LPX, experts are unsure if Davita will continue its growth in the latter half of the year, resulting in a ‘neutral’ rating. However, the average price target suggests a potential increase of 2.02%. DVA accounts for approximately 1.5% of Buffett’s portfolio.
Nu Holdings Ltd (NYSE: NU)
Nu Holdings Ltd (NYSE: NU), a Brazilian neobank based in Sao Paulo, is the top-performing stock in Warren Buffett’s portfolio in 2024. Since January 2, NU shares have surged by 45.52%, with the current price at $11.84. Analysts are cautiously optimistic about NU’s future, with an average ‘buy’ rating on TradingView. Despite this, the price target remains conservative, forecasting a 3.48% upside. Nubank, despite being backed by Buffett before its IPO, represents only 0.4% of his portfolio.
In conclusion, while new investors may be making waves in the market, the tried and true strategies of investing legends like Warren Buffett continue to yield impressive results in 2024.
