The market’s harsh volatility won’t seem to let up this year. The S&P/TSX Composite Index is positive in 2022 so far, but there have been plenty of ups and downs through the first three months of the year.
The recent volatility is yet another reminder of why investing for the short term is a dangerous game to play.
If you’ve got a long-term time horizon, there’s no need to worry about volatility in the short term. In fact, now is an excellent time to add stocks to your portfolio.
Here’s a list of four Canadian stocks that long-term investors can feel great about buying today.
Brookfield Renewable Partners
Renewable energy is one area of the market that any long-term investor would be wise to have exposure to.
At a market of more than $30 billion, Brookfield Renewable Partners (TSX: BEP.UN)(NYSE: BEP) is a leader in the growing green energy space. The company owns and operates a wide-ranging portfolio of renewable energy assets spread across the globe.
Shares are up more than 100% over the past five years. That’s not even including the growth stock’s impressive 3% dividend yield, either.
If you’re new to renewable energy, this is an excellent first company to own.
Constellation Software
Growth may be slowing, but this Canadian tech giant still has the potential to be a market beater for years to come. Constellation Software (TSX: CSU) is also very modestly priced compared to many other growth stocks in the tech sector.
The $45 billion company relies much more heavily on acquisitions today to help fuel growth. Still, shares of the growth stock are up a market-crushing 235% over the past five years.
If you’re looking for a well-priced tech stock with market-beating growth potential, this is the company for you.
Kinaxis
This tech stock may be trading at a premium compared to Constellation Software, but that’s because it’s still in the early days of its growth story.
Kinaxis (TSX: KXS) provides its global customers with cloud-based software for all things related to supply chain management. Whether it’s for inventory management or supply and demand planning, Kinaxis’s software can help its customers improve productivity and efficiency.
Shares may not be cheap, but that’s because investors have high hopes for the company. The growth stock has returned just shy of 100% over the past five years, and I’m betting we’ll see that growth rate improve in the coming decade.
goeasy
Last on my list of top growth stocks may be one of the best-kept secrets on the TSX. goeasy (TSX: GSY) has very quietly been delivering market-crushing gains to its shareholders over the past decade.
The outstanding growth may come as a surprise to some investors considering the industry that goeasy operates in. The company is a consumer-facing loan provider that supports Canadians across the country. It’s not exactly a market that screams growth.
Still, shares are up close to 250% over the past five years compared to the Canadian market’s return of less than 50%.
And with shares trading at a rare discount today, now’s a great time to start a position in this top growth stock.
