Financial independence is a dream that many people have, especially after holiday spending. MoneyShow has shared three investment ideas from expert contributors that could help boost profits and income in the latter half of 2024. Elliott Gue, Energy and Income Advisor, highlights Kinder Morgan Inc. (KMI) as a strong investment option due to the increasing demand for natural gas driven by energy-hogging Artificial Intelligence (AI) applications in the US. As the need for natural gas continues to rise, KMI stands to benefit from this trend in the energy sector.
Kelley Wright, from IQ Trends, recommends Eastman Chemical Co. (EMN) as an investment opportunity in the advanced materials and specialty additives space. EMN, a global company with a long history dating back to its origin as part of Eastman Kodak, has shown resilience and profitability despite revenue declines. With initiatives in recycling plastics and expanding its capabilities, EMN is poised for further growth and success in the future.
For investors looking for opportunities in the cybersecurity industry, Kelly Green, from Dividend Digest, suggests looking at Business Development Companies (BDCs) like Hercules Capital Inc. (HTGC). With the recent cyberattack on CDK Global, the importance of cybersecurity in today’s data-driven world is evident. BDCs like HTGC invest in companies in the technology and cybersecurity sectors, providing investors with exposure to these growing industries.
The cybersecurity industry is projected to continue growing, with an estimated value of $181 billion in 2023 and expected annual growth of 10% through 2030. BDCs, created to attract additional capital for small and medium businesses, offer investors the opportunity to invest in privately-held or thinly traded companies that may not be easily accessible otherwise. HTGC, with a focus on technology and life sciences companies, offers a 9.6% yield at its current stock price, providing investors with an attractive income stream.
In today’s rapidly evolving market, diversifying one’s portfolio with investments in different sectors can help mitigate risks and maximize returns. By considering investment opportunities in energy, materials, and cybersecurity, investors can position themselves for financial independence and success in the post-holiday period of 2024. Whether it’s KMI in the energy sector, EMN in materials, or HTGC in cybersecurity, these recommended actions offer potential for growth and income in the second half of the year.
