Investing in the stock market can definitely make you a millionaire – if you have enough time and / or invest significant amounts. Over 25 years, for example, you can raise nearly $ 1.2 million by saving and investing $ 15,000 annually and earning an average annual return of 8%. This is great!
But if you want to reach millionaires faster, you can take more risk by investing in some individual stocks – perhaps while keeping a portion of your assets in a solid low-fee index fund. There is no guarantee of good returns, but many stocks could double and triple in the coming years.
Here are three stocks to consider for your long-term portfolio – stocks that can help you become a millionaire faster.
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1. Jushi Holdings
You may have noticed that marijuana with medical and recreational drugs has become legal in more and more states over the past decade or so, with the tendency that it is likely to continue. So there is understandably a lot of interest in marijuana-focused companies as potentially powerful investments. There are many such companies though, so it can be confusing to figure out who is best positioned to thrive. One company that has many lawyers is Jushi Holdings (OTC: JUSHF).
Located in Boca Raton, Florida, Jushi is a national, multi-state cannabis business that develops and operates high-end retail locations, premium brands and modern cultivation, processing and manufacturing facilities. ‘It recently had 16 open stores and another 16 openings, in a handful of states such as California, Pennsylvania, Illinois and Virginia.
One of the nice things about Jushi is that although its share has more than exaggerated over the past year, it is still a modest company with a recent market capitalization of only $ 790 million. In other words, there is plenty of room for growth. Another big plus for the company is that the insiders have invested tens of millions of dollars of their own money in the company, which means that they have considerable skin in the game and are very motivated to make the business succeed.
Boston Omaha
Boston Omaha (NASDAQ: BOMN) is another small business with a recent market value of $ 1.2 billion. It’s also an unusual company that is sometimes compared to Warren Buffett. Berkshire Hathaway – although it does not have Berkshire’s amazing record of decades and neither does Buffett at the helm. (However, his grandson, Alex Rozek, is his co-CEO.)
The agreement with Berkshire stems from the fact that Boston Omaha is diverse in its operations. Its three majority firms are focused on outdoor advertising (think billboards), sponsorship insurance and broadband telecommunications. Like Berkshire, it also has other interests, such as minority ownership in a bank, a national residential home builder and commercial real estate services. One of the companies recently had a stock exchange, leaving Boston Omaha with shares that were recently worth millions of dollars.
One reason some investors have been excited about Boston Omaha recently is that it recently launched a ‘SPAC’, or a specialty procurement company – a company often referred to as a ‘blank check company’, because it take money from investors. to buy other companies – on the basis of ‘trust me, I will buy good companies’. Boston Omaha is worth a closer look if you are interested.
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3. Universal performance
Finally we come to Universal performance (NASDAQ: OLED), a $ 10.5 billion technology company that has nearly doubled its holdings over the past five years. It specializes in energy-efficient organic light-emitting diode (OLED) lighting technology, found in many, if not most, smartphones.
The technology for OLED lighting is evolving and improving, and Universal Display is a major player in its research and development. It owns or has the right to sublicense more than 5 000 patents (both issued and pending), and it gets 43% of its revenue (in 2020) from it alone – licensing. It is not a manufacturer of OLED products, but the material for it, and 54% of its revenue was in 2020.
One promising catalyst for the growth of Universal Display is that more televisions with OLED screens are produced, and it takes up much more real estate than a small smartphone screen, so they need more production materials. This profitable company also seems reasonably valued, with its regular and forward-looking price-to-earnings ratio (P / E) on the steep side, but also below their five-year averages. And it pays even a small (but growing) dividend.
It looks like each of these three companies will perform well over the next decade or so, and they could accelerate your arrival on millionaire traffic – or just grow a portion of your portfolio faster. Look at the things that interest you.
This article represents the opinion of the author, who may not be in agreement with the ‘official’ recommendation position of a Motley Fool premium advisory service. We are furry! When we question an investment thesis – even one of our own – it helps us all to think critically about investing and to make decisions that help us become smarter, happier and richer.