This Stock Is Up 90%, but You Can Still Buy It
While it's always best to buy stocks at the lowest price you can, you can't time the market, which means even the best investors rarely buy stocks at the bottom. So your goal shouldn't be to find the cheapest prices, because that could present several problems. Missing great stocks at good prices and falling into value traps are two that come to mind.
Instead, focus on finding great stocks at valuations that still imply growth. Warren Buffett says, "It's far better to buy a wonderful company at a fair price than a fair company at a wonderful price." That's coming from the king of value investing, in which low prices are key. But low prices aren't worth much if the companies behind them aren't going anywhere.
It's not surprising, then, that Buffett's been backing fintech company Nu Holdings (NYSE:NU), even though it's not your typical Buffett stock. It's already up almost 90% in 2023, but it's not too late to buy. Here's why.
Source Fool.com
