Got $1,000? Buy and Hold This Growth Stock
The stock market is one of the best ways to generate wealth over the long term. Since 2001, the Nasdaq 100 has surged 884%, growing at roughly 12% per year. Put another way, if you had invested $1,000 in the Nasdaq two decades ago, that sum would be worth nearly $10,000 today. And that includes the impact of the Great Recession, which cut the index down by 50% in 2008.
Of course, as a stock picker, my goal is to outperform the broader market. That's why I own Palantir Technologies (NYSE: PLTR). Here's why this growth stock looks like a smart long-term investment.
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Source Fool.com
