4 Stocks That Can Help You to Get Richer in 2024

Looking for stocks that could help you get richer in 2024 and long into the future. These four stocks have been long-term performers and have more to do.

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Great stock returns tend to take years and even decades to come to fruition. If you want a stock that is going to multiply many times over, you must be willing to stick with it for the long haul.

But you need to start somewhere. Now is as good as any time to start investing. If you are wondering what stocks could help you get richer in the years ahead, here are four to buy in 2024.

A real estate services stock

Colliers International Group (TSX:CIGI) has been a good long-term holding for shareholders. It has compounded total annual returns by a high teens rate for over two decades.

Colliers is best known for its international commercial real estate brokerage business. Yet over 70% of its earnings now come from its high-quality, recurring revenue businesses like engineering, advisory/real estate services, and asset management.

These segments are considerably less cyclical than its capital markets business. After a recent financing, the company has excess liquidity. It is primed to further expand its recurring services business through acquisitions.

While this stock likely won’t recover until capital markets volumes pick up, you can pick it up at a fair value today. When real estate transactions recover, this stock could really soar.

An industrial compounder

TerraVest Industries (TSX:TVK) is a hidden gem that won’t be hidden forever. TerraVest stock is up 530% in the past five years. However, with a market cap of only $1.4 billion, it could still have years to multiply ahead.

TerraVest operates in less-than-thrilling industries. It has a mix of industrial businesses focused on heating, energy, and gas/liquids storage/transport. The key is in TerraVest’s ability to buy these industrial businesses cheap, find synergies, reap the cash flow, and reinvest at high rates of return.

TerraVest is a smart capital allocation story. If this company continues to produce (like it has), it will continue to look cheap today.

A European software stock

Another stock to buy in 2024 for long-term returns is Topicus.com (TSXV:TOI). Like the two stocks above, this is not on most investors radar. Topicus was spun-out from Constellation Software in 2021. It is replicating a similar strategy to consolidate small vertical market software businesses.

However, Topicus has a unique focus on Europe. This is an intriguing geography because of its diverse array of countries, governments, languages, and industries.

Consequently, Topicus has a massive market to continue to consolidate. The company has some great software assets, so it has been seeing strong organic growth as well. While this is a pricier stock today, it is a worthy buy on any serious pullback.

A fast-growing financial

Winning stocks tend to keep winning. That is why goeasy (TSX:GSY) could continue to outperform. It is one of Canada’s largest non-prime lenders. Even though the economy has weakened, demand for its loans has remained very strong.

Canada’s big banks have tightened lending policies so near-prime consumers are moving to goeasy for lending services. The company is a very prudent underwriter and manages its loan book very conservatively.

goeasy has expanded its product category over the years. Each move adds a new mix of customers and opportunities. It just added credit cards to its mix, so that could be a whole new growth market in the years ahead.

This article represents the opinion of the writer, who may disagree with the “official” recommendation position of a Motley Fool premium service or advisor. We’re Motley! Questioning an investing thesis — even one of our own — helps us all think critically about investing and make decisions that help us become smarter, happier, and richer, so we sometimes publish articles that may not be in line with recommendations, rankings or other content.

Fool contributor Robin Brown has positions in Colliers International Group, Constellation Software, goeasy, TerraVest Industries, and Topicus.com. The Motley Fool has positions in and recommends Colliers International Group and Topicus.com. The Motley Fool recommends Constellation Software and TerraVest Industries. The Motley Fool has a disclosure policy

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