Investors have been narrowly focused on the last year. I can see why. There was a lot that happened in the markets. While many industries tanked during the March 2020 crash, others soared. But if you’re a long-term investor, you need to think long term. That means the next decade or more. It’s why you should look for top stocks that you’ll also want to own another decade or more from now.
That doesn’t mean you need to turn away from industries that are doing well. Far from it! In fact, there are top stocks that soared in the last decade and are still soaring due to momentum. So, here are the top stocks to consider.
Gold has clearly been doing well lately, but Kirkland Lake Gold (TSX:KL)(NYSE:KL) in particular has been killing it. The company made a shift a few years ago and has been acquiring mines all over the world. The result is a diverse portfolio that spans the globe at a time when many people continue to buy gold during a volatile market. The biggest shift happened after buying an Australian mine and production soared.
The result is a gold company that is a king among top stocks. If you were to have invested in Kirkland when it bottomed out around $3.50 back in 2014, shares have grown 1,633% since that time. That would make a $10,000 investment worth $148,571.42 to date!
If you’re not willing to invest in a stock in particular, then an income fund could be the way to go. For that, look no further than Boyd Group Income Fund (TSX:BYD.UN). The company has been a steady investor in auto collision repair centres, no matter the size. This strategy seems to have worked, with the company booming from 90 centres in 2010 to 670 as of writing.
What’s really great about Boyd? It’s basically recession proof. Since insurance pays mainly for auto repair, people will continue to come get their cars fixed. So, the company will continue to do well! Shares have doubled in the last year and are up 2,425% in the last decade. If you had invested $10,000 in Boyd back then, you would have $252,500 today!
The tech industry has done well this year; there’s no doubt about that. But Constellation Software (TSX:CSU) has been doing well far beyond just this year alone. The company provides software as a service (SaaS) to public and private companies around the world. It has 125,000 customers in over 100 countries providing need-specific software to those companies.
The company continues to grow through acquisition and is likely to continue this strategy into the future. Over the last decade, shares have risen 3,873% as of writing. If you had invested $10,000 into this stock back then, it would be worth an incredible $330,400 today!
While you can’t bet that you’ll see an identical decade in the next 10 years, these companies provide a strong option for long-term holders. Each of these top stocks gives you an idea of the industries set to do well as well as ways to keep your portfolio diverse and strong. So, consider adding them to your watch list for when you speak to your financial advisor.
Still worried about cash this year? Motley Fool experts are doubling down on this stock!
5G is one of the greatest arrivals in technology since the birth of the internet. We could see plenty of new wealth-building opportunities in 2021 that would potentially dwarf any that came before them.
5G has the potential to radically change our lives and society as we know it, but if you’re an investor, the implications are even greater — and potentially much more lucrative.
To learn more about it and its revolutionary potential to change the industry — and potentially your bank account — click on the link below to get the full scoop.
Fool contributor Amy Legate-Wolfe has no position in any of the stocks mentioned. The Motley Fool owns shares of and recommends Constellation Software.