HD - 3 Stocks to Add to Your Portfolio in a Market Pullback
2024-01-15 08:26:00 ET
This article discusses three stocks worth buying when the stock market pulls back. But I need to season this subject with a grain of salt first. Investing great Peter Lynch probably said it best when he said, "Far more money has been lost by investors preparing for corrections, or trying to anticipate corrections, than has been lost in corrections themselves."
Lynch observes that waiting for stocks to pull back is often counterproductive. Over the last century, stocks have increased in value far more than they've pulled back. Therefore, by the time a pullback happens, stocks have often gone up so much that the pullback price is still higher than what the price was when investors started waiting in the first place.
With this in mind, short-term rental company Airbnb (NASDAQ: ABNB) , home-improvement retailer Home Depot (NYSE: HD) , and sporting-goods retailer Dick's Sporting Goods (NYSE: DKS) routinely post strong financial results. This makes them top candidates to add to a portfolio when market conditions knock shares down a notch.
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3 Stocks to Add to Your Portfolio in a Market Pullback