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3 ASX shares for buy and hold investors to check out

If you’re interested in growing your wealth, then investing with a long term focus could be a great way to…
The post 3 ASX shares for buy and hold investors to check out appeared first on The Motley Fool Australia. –

If you’re interested in growing your wealth, then investing with a long term focus could be a great way to do it. 

This is because investing in this way allows you to benefit from compounding. This is interest on top of interest.

One legendary investor that has used compounding to his advantage is Warren Buffett. Thanks to some astute investments over several decades, Mr Buffett has amassed significant wealth. And positively, there’s nothing to stop regular investors from following in his footsteps.

With that in mind, I have picked out three ASX shares that could be top candidates for a buy and hold investment. Here’s why they could be worth researching further:

Cochlear Limited (ASX: COH)

Cochlear is one of the world’s leading hearing solutions companies. It has a global distribution network and some of the highest quality products on the market. Combined with its high level of investment in research and development, this leaves it well-positioned to benefit from the ageing populations tailwind.

NEXTDC Ltd (ASX: NXT)

NextDc is one of the Asia-Pacific region’s leading data centre operators. It has a growing number of world class centres in key locations across Australia. Demand for capacity in these centres is growing at a rate that has led to management having to bring forward expansion plans. The company is also looking to expand its footprint into Asia, which would provide it with a significant growth runway.

Zip Co Ltd (ASX: Z1P)

Zip is the buy now pay later (BNPL) provider behind the eponymous Zip brand and the US-based Quadpay brand. It has also recently acquired a couple of smaller but established BNPL providers in Asia and the Middle East. Given its global expansion, the growing popularity of the payment method, and the decline of credit cards, it appears well-placed for growth over the next decade.

The post 3 ASX shares for buy and hold investors to check out appeared first on The Motley Fool Australia.

Wondering where you should invest $1,000 right now?

When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for more than eight years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

Scott just revealed what he believes could be the five best ASX stocks for investors to buy right now. These stocks are trading at near dirt-cheap prices and Scott thinks they could be great buys right now.

*Returns as of May 24th 2021

More reading

Top brokers name 3 ASX shares to sell today

Why Zip (ASX:Z1P) and this ASX growth share are highly rated by analysts
Why ‘value’ and ‘growth’ share categories are meaningless

PayPal taking fight to Afterpay (ASX:APT) and ASX banks
How ASX data centre shares are racing for the cloud

James Mickleboro owns shares of NEXTDC. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended Cochlear Ltd. and ZIPCOLTD FPO. The Motley Fool Australia has recommended Cochlear Ltd. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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