This Long-Term Buffett Stock Has Held Up Despite Inflationary Pressures
Inflation has been hot for over a year and has wreaked havoc on markets, and the Federal Reserve is raising interest rates at the fastest pace in years to fight it off. But one Warren Buffett stock is holding up well and is benefiting from what has been a headwind for many other businesses.
As the CEO of Berkshire Hathaway for 57 years, Buffett has delivered returns of 20% annually, so investors shouldn't be too surprised that one of his longtime holdings, Globe Life (NYSE: GL), is beating inflation and the market, up 20% on the year. Here are the factors contributing to this company's solid performance this year.
Globe Life sells life and supplemental insurance covering cancer, intensive care, and supplemental Medicare. Life insurers faced difficulties in the last few years with the pandemic, causing the claims paid out on life insurance policies to jump.
Source Fool.com
