Sometimes the best stock picks are the most boring ones. They don’t make it onto the news because they don’t make the latest fad products and they don’t have amazing stories behind them. They just run in the background and continue generating cash.
Affiliated Managers Group (NYSE:AMG) is one such company. It makes money by buying partial stakes in a diverse range of investment firms. The investment firms they work with are called affiliates. The affiliates send part of their profits to AMG, while AMG provides product distribution, operations, technology, and marketing. The company has a proven business model and their management is top-notch.
Find them online at www.amg.com.
I bought my position in AMG at about $154 per share. I think the stock is a good buy under $163 per share. I plan to hold AMG for at least one year.
Disclaimer and disclosures: As with all investment information, you should do your own research and/or consult with a professional before making investment decisions. Remember, it’s your money. The information provided here represents my personal opinions. I own shares of AMG.