Got $3,000 and Under 30? Investing in These Growth Stocks Could Make You Rich
Being young certainly has its advantages, not least of which is the miracle of compound interest, which Albert Einstein purportedly called the "eighth wonder of the world." Even better than compound interest? The internal compounding of leading growth companies. By buying a top growth stock early in its corporate life and holding for many years, internal compounding can yield market-trouncing returns, making you potentially hundreds or even thousands of times your money.
Of course, top-quality growth stocks don't often look "cheap," and in today's frothy market, many trade at very high valuations. Many readers know that I've been skeptical of certain expensive stocks, including electric vehicle makers, due to the capital intensity and low margins of the auto business, online gambling stocks and cannabis companies due to regulation and competition, and even some pockets of technology, which are otherwise good businesses but have just gotten over-extended.
Yet if a company has a leading product, a developing economic moat, and a big enough market opportunity, investors shouldn't hesitate to pounce. That's why the following growth all-stars look like they could be real-deal life-changing stocks in the making, despite their pricey-looking valuations today.
Source Fool.com
