Looking back at what 2024 was, there’s something interesting to analyze about what really were the best investments of that year. While most talked about economic recovery and falling inflation, some made bold bets on certain names that turned out to be quite accurate.

Nvidia was probably the most obvious star. The company already dominated the AI chip market with nearly 90% market share, and 2024 only confirmed what many suspected. Since the beginning of the year, it grew another 15%, adding to the brutal 239% of 2023. Today, looking at the numbers, that bet on AI technology was one of the smartest moves you could make.

Alphabet also had its moment. With that 58% year-over-year appreciation and its launch of Gemini to compete with ChatGPT, the company positioned itself well. The interesting part was that its P/E of 29 was cheaper than most of the sector, so there was real growth potential. Beyond the AI hype, its advertising revenues remained solid.

Then there was Novo Nordisk, which most didn’t see coming. The anti-obesity drug sector exploded in 2024. With Ozempic as its flagship product and a projected market of $44 billion by 2030, the company grew 57% in 2023 and maintained momentum in 2024. It was one of those investments that combined real growth with an expanding market.

Berkshire Hathaway represented the opposite: pure stability. With $157 billion in cash and that beta of 0.64 meaning less volatility, it was the safe haven while the entire market moved. Warren Buffett continued to be Warren Buffett, generating value through prudent management.

Broadcom was the semiconductor surprise. It grew 108% in 2023, and the acquisition of VMware gave it diversification outside of chips. When they projected 40% revenue growth for 2024, you knew something interesting was happening in that sector.

What I learned is that 2024 was a year where the best investments weren’t necessarily the obvious ones. Yes, everyone talked about AI, but there were real opportunities in pharmaceuticals, in specialized semiconductors, in companies with solid fundamentals. Diversification worked. Those who invested in these five names ended up quite well positioned.

For those thinking about investment strategies now, the lesson is clear: it’s not enough to follow the trend of the moment. You need to look at the numbers, understand where real growth is, and avoid putting all your eggs in one basket. What seemed basic in 2024 remains valid today.