Joseph Carlson: Top Ten Deep Value Stocks for 2024

For most of 2023, big-cap tech stocks dragged the overall market index higher. Since the October lows and swing higher, more stocks have trended higher. That could be a sign that the markets are rotating, letting a sector other than tech take the lead.

Usually, a market rotation is a good long-term sign for a bull market. For those still concerned about the market’s recent move higher, there’s another trend to play as well. Value stocks.

While value is a subjective term, it typically means looking at the value of a company as a business, and buying shares at a discount to that value.

With so many stocks starting to now move higher, value plays could be a surprising winner in 2024.

One area that could fare well are the gold stocks. While the yellow metal recently hit a new record high this year, companies like Barrick Gold (GOLD) are flat for 2023.

That could change next year. Higher gold prices mean higher profits for the gold miners.

And while Barrick’s earnings are up 53 percent over the last year, its profit margin is still less than 1 percent. If that explodes higher, shares likely will too.

Value can also come in large-cap plays. Conglomerate Berkshire-Hathway (BRK-B), tends to get overlooked when tech stocks are rising.

But it’s a slow-and-steady player that will outperform and hold its own when tech stock move out of favor.

To view the full list of value opportunities going into 2024, click here.