Concerned about a serious market correction? It appears there’s reason to be. Stocks are already at all-time highs on the basis of some indicators. Indeed, investors may be getting antsy with respect to how to build a portfolio today.
But fear not. For those well-diversified investors out there, everything will be okay in the long-run. Corrections are normal. Being patient – that’s harder.
For those looking for some great diversifiers, here are three unique picks across different sectors to consider right now.
Kirkland Lake Gold
Indeed, Kirkland Lake Gold (TSX:KL)(NYSE:KL) has been on my radar for a long time. And for good reason.
I definitely believe Kirkland Lake is the best gold miner in the market today. In fact, judging by its recent Q4 earnings report, the company is nothing short of impressive in terms of revenue generation and core fundamentals.
Take, for example, the company’s amazing 68% year-over-year increase in revenue. Earnings weren’t too shabby either, up 38% year-over-year.
Even though some investors are bearish about gold’s potential, I think the catalysts driving gold right now are robust. Regardless, companies like Kirkland that have amazing fundamentals are a buy in any market.
Curaleaf Holdings
Did you know by 2028, the global market size of legal marijuana is projected to reach a whopping $84 billion?
There are many reasons to believe the trade in cannabis could actually maintain over time, this time around. U.S. legalization could prove to the long-term growth catalyst this sector needs.
Accordingly, companies like Curaleaf Holdings (TSXV:CURA) are the best picks in the sector to consider right now. Why? Well, mainly because Curaleaf is the largest publicly-traded U.S. cannabis player at the moment. Size, and market share, matter.
Besides the upcoming legalization of recreational pot in the U.S., the company’s got an extremely sustainable business model providing steady long-term growth prospects. Its vertically-integrated business model in the U.S. is the envy of the sector. Incredible revenue growth of 205% speaks to the upside Curaleaf provides investors today.
Toronto-Dominion Bank
Some analysts have been quick to brand Toronto-Dominion Bank (TSX:TD)(NYSE:TD) as a great reopening play, and I can’t disagree with them.
I think a boom in economic activity, increased consumption levels, and employment rate improvements post-pandemic are likely to be very bullish for TD shareholders. Credit quality should broadly increase alongside lending volumes. With the yield curve steepening, this growth will become more profitable.
But above all, TD’s strong core business model and extremely efficient operations provides a margin of safety I view as very attractive for long-term investors.
