3 Stocks That Turned $1,000 Into Half a Million Dollars
Here are three very different businesses that have turned $1,000 into $500,000 for investors. The stock market has produced some fantastic returns for long-term investors over the years, but a select few companies have produced life-changing wealth for their shareholders. In fact, some have taken a $1,000 investment and turned it into $500,000 over time.
Here are three examples of stocks that have done just that, and what you can learn from them as you try to discover the next 500x investment opportunities.
From the time Warren Buffett took the reins of a struggling textile manufacturer called Berkshire Hathaway (NYSE: BRK.A)(NYSE: BRK.B) in 1964 through the end of 2021, shares gained a staggering $3,641,613%. To put this into perspective, this means that investors who put $1,000 into the stock in 1964 have seen their investment grow to more than $36.4 million. Buffett and his team accomplished this by pivoting their focus to insurance businesses, and using the "float," or premiums not yet paid out for claims, to invest in stocks and entire businesses.
Source Fool.com
