Around this time two years ago, I asked some respected market experts to give me one stock to hold for 10 years. One of the enduring lessons I’ve learnt over 30 years of being interested in building wealth, was that being fixated on quality assets and being prepared to buy them when their respective markets have problems with them is a pretty good, consistent policy to stick to, if you like to get richer over time. The Coronavirus has created a market situation that fits this story.
Recently I checked out how the stocks picked by my experts had performed.
- FNArena’s Rudi Filapek-Vandyck opted for CSL at $160.91and it went to $338.68 — that’s up more than 100%.
- Paul Rickard of the Switzer Report tipped CSL and is pretty happy with himself!
- Geoff Wilson of Wilson Asset Management selected TPG at $5.49 and it went to $8.10 — a 47% gain.
- Roger Montgomery of Montgomery Investment Management tipped CBA at $72.31 and it went to $87.85.
- I selected IOZ and my own dividend/growth fund, SWTZ, which delivered 22% and 11% respectively, plus a 14.2% dividend yield.
The other five stocks struggled, but the tipsters still have eight years to go before we can say they got it wrong. For your information, they were PACT, Tencent, Event Hospitality and Entertainment (EVT), Maruti Suzuki and Liberty Lilac, which were little known overseas stocks. As stock prices are under challenge, I decided to talk to some experts again to see what they like for the next 10 years. I will share them with you and some of the reasons for their choice.