The S&P/ASX 200 Index (Index: ^AXJO) (ASX: XJO) is flirting with its highest levels since before the GFC, which is enough to scare some investors away from the market! Granted, it has become more difficult to find stocks trading at bargain prices, but that doesn't mean they're not out there to be found.
Here are three stocks which you could buy today to propel your wealth over the coming decade…
It certainly isn't as cheap as it was three years ago, but Telstra Corporation Ltd (ASX: TLS) is still an excellent buy today. While the company's customer base continues to expand as more and more customers make the switch from rival carriers, the telco is also eager to increase its presence in overseas markets. In fact, by 2020 it hopes to generate more than one third of its revenues from Asian markets, which could provide investors who buy today with an enormous upside. The telecommunication giant's shares are currently trading at $5.21 and offer a legendary 5.5% fully franked dividend yield.
We all know how Warren Buffet's Berkshire Hathaway story has played out… The success of the investment conglomerate has been second to none over the decades. The good news is Australian investors have the opportunity to invest in a company with a very similar business approach, which goes by the name of Washington H. Soul Pattinson and Co. Ltd (ASX: SOL).
Like Berkshire, Soul Patts maintains investments in whole companies as well as interests in several other companies. Some of its more substantial investments include companies like TPG Telecom Ltd (ASX: TPM), Brickworks Limited (ASX: BKW) and coal miner New Hope Corporation Limited (ASX: NHC). Unlike Berkshire however, Soul Patts also offers investors a juicy dividend. Currently the fully franked yield sits at 3.2%, although it is expected to grow over the coming years.
Data analytics group Veda Group Ltd (ASX: VED) is another stock you should seriously consider picking up a stake in. While interest rates look set to remain low for some time yet, credit growth is expected to continue to rise which will see more demand for Veda's products. The company boasts a solid history for increasing revenue and earnings and with shares trading at a 20% discount compared to three months ago, the stock looks a great buy today.
Another stock primed for serious growth
Telstra, Soul Patts and Veda Group would all be excellent buys today to drive your wealth over the long term. However, there is another company which could deliver even greater returns…
