Here's a Great Stock to Own Amid Economic Uncertainty
Investors have had to grapple with a topsy-turvy stock market in recent months. Stubbornly high inflation has caused the Federal Reserve to pivot to tighter monetary policy, recently raising its benchmark interest rates by 75 basis points and marking the biggest increase since 1994. As a result, the stock market has reacted poorly. Since the start of 2022, the S&P 500 has retreated 24%, and investors shouldn't count on the index bouncing back until we're provided with a clearer view of the global economy.
During times of uncertainty, it's never a bad idea to bank on companies with durable business models. One of those businesses, Costco Wholesale (NASDAQ: COST), is built to power through recessions. Over the past decade, shareholders of the membership-only retail juggernaut have enjoyed a total return of 546%, representing a far superior gain to the S&P 500, which experienced a 232% total return in the same time frame.
Now that the stock has contracted 21% year to date, investors should seriously consider adding it to their long-term portfolios.
Source Fool.com
