5 TSX growth stocks that are turning heads — Warren Buffett on identifying winners

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These TSX Stocks have seen substantial growth since the market correction, but to create riches follow Warren Buffett’s investing advice.

Identifying undervalued stocks

It’s a great idea to also see what analysts think of stocks before buying into them. In the case of Lightspeed, analysts give it a consensus target price of $60, almost double where it is today. This comes from the company’s path to profitability, according to its fourth quarter earnings report, from recurring revenue, acquisition integration and in-store shopping.

That’s not to say you should stay away from growth stocks and opportunities. Instead, a market correction is a great time to identify long-term holds you can feel confident having for a decade or more. You want value stocks that have substantial growth now, and in the future. But the true path to riches lies in buying and holding patiently, as Buffett once explained in a letter to partners.

That’s why if you are looking for the ultimate hedge, it could be worthwhile to check out a real, but overlooked asset:Contemporary artwork has outperformed the S&P 500 by a commanding 174 per cent over the past 25 years, according to the Citi Global Art Market chart.

 

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