The only thing better than buying a quality stock is the opportunity to buy it at an outstanding price and then letting it accrue in value over the ultra-long term. Although the S&P/ASX 200 Index (Index: ^AXJO) (ASX: XJO) is hovering around multi-year high levels, there are a few companies which are still looking extremely appealing.
Coca-Cola Amatil Ltd (ASX: CCL) is one such stock. Since trading at an all-time high of $15.18 in May last year, the shares have plummeted as low as $9.00 – a staggering 41% decline. Although they have since recovered slightly (they are now trading at $9.68), this is still an opportunity that may never again present itself. Warren Buffett once described Coca-Cola as a "forever brand" and has stated he will never sell a share of the business' parent company, The Coca-Cola Company (NYSE: KO), and I think the same applies to Coca-Cola Amatil. And what better opportunity to buy than when no one else seems to want them?
Another stock which should also be held onto for the ultra-long term is Telstra Corporation Ltd (ASX: TLS). Although it is already one of Australia's largest corporations by market cap ($66.5 billion), there is still plenty of room to grow. While its dominance in the Australian telecommunications industry is unquestionable, it has also recently stated that it hopes to generate at least one third of its revenue from Asia by 2020. To make for an even stronger case, it offers an outstanding 5.3% fully franked dividend.
In terms of safety, growth and diversification, you can't look past Washington H. Soul Pattinson and Co. Ltd (ASX: SOL). Soul Patts is an investment conglomerate which has a very similar business approach as Warren Buffett's own Berkshire Hathaway Inc (NYSE: BRK.A, BRK.B) with substantial investments in companies like Brickworks Limited (ASX: BKW) and TPG Telecom Ltd (ASX: TPM). Although its investment in coal miner New Hope Corporation Limited (ASX: NHC) is currently acting as a drag on earnings, the company believes in its long-term prospects, and so should investors.
Another stock primed for serious growth
Coca-Cola Amatil, Telstra and Soul Patts are all well-established corporations and a buy today could reap you incredible returns over the coming decades. However, there is another company early in its growth story which might just double your money over the coming years…