Your key to rich returns could lie among these retailer, payment-processing, and biopharma stocks.
When you buy a stock, you're buying a stake in a business. Would you, then, invest your hard-earned money in a company that might not be around a couple of decades from now or might barely grow over the years?If your answer is a resounding no, you understand why it's essential to identify businesses with sustainable competitive advantages and strong growth catalysts to be worth your money. When held for really long terms, stocks of such businesses can grow manifold and help you retire rich — something every investor would aim for.
These three Motley Fool contributors believe Home Depot (NYSE:HD), Visa (NYSE:V), and Amarin Corp. (NASDAQ:AMRN) are three such great stocks you can buy and hold for decades. Here's why.
Building a rich future
Rich Duprey (Home Depot): Walk into any Home Depot home-improvement center, and with all the lumber, construction materials, and garden supplies, you don't get the sense that this is a big-time tech company. This is a business in which you're working with your hands and wiping sweat off your brow. Yet the investments Big Orange has made in its business have indeed created a technological wonder.
Home Depot's online operations are the fourth-largest of all online retailers, generating some $6.7 billion in annual sales for its website and influencing 60% of its total sales, whether online or in store. It also continues to invest, pledging to spend $11 billion over the next three years in its stores, on its online and IT platforms, and in unifying its supply chain, all in a bid to improve the customer experience.