4 shares you can buy and hold for the next 10 years

These four shares including Challenger Ltd (ASX:CGF) should be on the radar of any true long-term investor.

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Long-term investing sounds easy enough, but most investors know that buying and holding shares for more than a couple of years can be pretty tough.

There is always the temptation to lock-in profits or sell out as soon as there is a hint of bad news.

However, investing for the long term is a proven investment strategy that can be made even better through the power of compounding.

Although not every share on the ASX is suitable as a long-term investment, there are quite a number of very good candidates, including:

Nanosonics Ltd. (ASX: NAN)

Nanosonics is an emerging leader in the medical disinfection market thanks to its revolutionary trophon EPR system. The potential market opportunity is massive and the company is well placed to capture a large portion of this market as its system continues to gain global recognition as the gold standard.

Challenger Ltd (ASX: CGF)

The ever-expanding pool of superannuation money along with the ageing population are two huge tailwinds for Australia's leading annuities provider. Challenger has done a great job of marketing itself over recent years and I think annuities will only grow in popularity as more retirees look for less volatile income streams.

Blackmores Limited (ASX: BKL)

Blackmores' recent performance has been quite underwhelming, but I remain confident about the vitamin maker's longer term prospects. The company has a huge opportunity in the Asia Pacific region where the popularity of supplements and health products is growing in-line with the rise and wealth of the middle class. The shares look a little expensive at the moment, but I think Blackmores could offer great long term value at slightly lower prices.

Ramsay Health Care Limited (ASX: RHC)

The private hospital operator will have a major role in servicing the needs of an ageing population and simultaneously reducing the budgetary pressures on the government funded public sector. Ramsay has a proven international expansion strategy and I believe the company will continue to reap the rewards of an ever-increasing network of hospitals.

Motley Fool contributor Christopher Georges owns shares of Blackmores Limited and Nanosonics Limited. The Motley Fool Australia owns shares of Challenger Limited and Nanosonics Limited. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. 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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