I am still working on my best stock picks for 2024. Not sure, but I believe I have done this maybe for about ten times over the past couple of decades. I am VERY sure though that while some stocks have done ok in a year's grouping, overall and particularly, these posted "best prospects" have been a real disaster for me. Especially in recent years, where I bet heavily in stocks with what I believed to be really good prospects. I hope nobody remembers NVAX for example. Many big losers after that. Kind of strange my portfolios are up this year (below S&P), but I will show tremendous capital losses on my taxes as I closed out positions at or at bk this year that I bought as "best stock picks" in prior years.
I still have to learn basic lessons -- position sizing, greed kills, FOMO, "why invest money you might need to get money you don't need?" (Buffett)
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What will do well next year? Could it be a continuation of the Magnificent 7? Can these stocks carry a portfolio next year? AI to help supposedly? Who makes a case for them to be value stocks at their highs now? Who sees these stocks dropping much? Maybe just holding on, not rising.
I'm not sure where I should be in this bull market. Maybe heading to Graham level with 25% in stocks and 75% in bonds/cash? Right now, I find nothing new for me to make a substantial commitment to. Cash is good.
I'm taking a little cash and buying QQQE now. That gives me equal weight positions in the 100 top Nasdaq stocks. A coward's way to place some money in market to play for the continuation of growth of very high p/e or no earnings smaller cap tech stocks. I'll monitor, and if/when the market corrects these stocks, I won't hold on.
finance.yahoo.com
I'll post a little later some individual picks that I have for 2024. |
