Adding $500 to These Stocks Would Be a Genius Move Right Now
Peter Lynch was a top-performing mutual fund manager. In addition to growing wealth for his investors, he has shared a wealth of knowledge with the general public through his best-selling books. Among his nuggets of wisdom is that "the best stock to buy is the one you already own." In other words, it's often better to add to an existing position than a new stock in your portfolio.
With that wisdom in mind, now could be a great time to add to your highest-conviction investments. Two of my highest-conviction ideas are American Tower (NYSE: AMT) and Blackstone (NYSE: BX). Because of that, I think now would be a wise time for fellow investors to add $500 or so to their positions (or consider adding these stocks to their portfolios if they don't already hold them).
Shares of American Tower have slumped 30% from their 52-week high. That has the infrastructure REIT trading at a cheaper price and higher dividend yield. The dividend yield is currently around 3%, putting it near the highest level since the company initiated a payout upon converting to a REIT a decade ago.
Source Fool.com
