There are plenty of different approaches to getting rich. Warren Buffett's value investing, buy-and-hold strategy is incredibly well known and discussed, but there are a number of other seriously successful investors who have employed different techniques to get rich too.
Peter Lynch for example could be described as from the 'growth' camp rather than the 'value' camp, which is where Buffett hails from – Buffett would rightly point out that he believes growth and value are synonymous, but we'll leave that discussion for another day.
As a growth investor Lynch focussed on finding 'ten baggers', companies which had long runways with the potential to provide a ten-fold return on an initial investment. Interestingly Lynch believed individual investors could be best placed to find such stocks as they are 'closer to the coal face' so to speak, and could identify a company which was growing quickly sooner than a fund manager.
Here are a few growth stocks which would perhaps have piqued Lynch's interest.
Domino's Pizza Enterprises Ltd. (ASX: DMP) – With expansion into Europe and Japan, the pizza chain could keep on expanding its franchise for a long time.
Sirtex Medical Limited (ASX: SRX) – Sirtex has enjoyed uninterrupted growth in sales of its cancer treatment and its future growth profile looks just as promising.
Cochlear Limited (ASX: COH) – produces life changing hearing devices. A growing global per capita income will continue to expand Cochlear's potential customer base.
CSL Limited (ASX: CSL) – with a huge research and development budget, CSL keeps expanding its product base and thereby expanding the treatments it can offer to patients.
