Most investors who want to become wealthy shouldn't be in a rush to do so. After all, the market's movements are impossible to predict, so it makes sense to construct a portfolio of stocks that wisely balances risk and reward. Doing so properly should allow you to grow your money when times are good and protect you from the downside when the next bear market rears its ugly head. Buying and holding shares of great companies, such as the three I'll describe below, is a proven way to grow your wealth over the long term.
Investors who are after long-term growth but want downside protection might want to take a close look at CVS Health (NYSE:CVS). CVS' services are likely to be in demand no matter what is going on in the economy, which should gives its stock downside protection. Investors who are after a stock with more upside potential and are willing to accept a bit more risk might want to consider looking at American Tower (NYSE:AMT). American Tower is organized as a real estate investment trust, or REIT, and the company specializes in owning and operating cellular towers. Acadia Pharmaceuticals (NASDAQ:ACAD) recently launched its first drug for sale after winning Food and Drug Administration approval earlier this year. The drug is called Nuplazid and it was approved to treat Parkinson's disease psychosis, or PDP, a disease that causes delusions and hallucinations.
Source: Motley Fool
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- 10 Stocks That Have Paid Dividends Since The 1800s
- Are You Patient Enough To Be Wealthy? These 7 Dividend Stocks Will Help You Wait
- Three Keys For Successful Dividend Growth Investing
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