The S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) has rocketed higher today, more than reversing the declines endured on Monday.
At the time of writing, the main index has rocketed 97 points, or 1.7% higher, and is now sitting at 5,781 points. Meanwhile, the ALL ORDINARIES (Index: ^AXAO) (ASX: XAO) has lifted 90 points or 1.6% to 5818 points.
Days like today can bring mixed emotions for investors. On the one hand, investors are excited to see their shares rising in price; the Commonwealth Bank of Australia (ASX: CBA) share price, for instance, has gained 1.9% while the Telstra Corporation Ltd (ASX: TLS) share price is up 1.7%. However, it can also lead investors to believe they have missed the rally, making it too late to buy.
But as the old saying goes, the best time to plant an oak tree was 20 years ago; the second best time is now. Just because the market has risen almost 100 points doesn't mean it's too late to buy high-quality businesses that you intend on holding for years to come.
CSL Limited (ASX: CSL) is one business you could look at picking up shares in today. CSL has proven to be a reliable business for investors over the years, and maintains its defensive characteristics that should enable it to withstand tougher economic conditions, should they arise. The CSL share price is currently fetching $136.82, up more than 36% year-to-date.
Another company worth considering is Bapcor Ltd (ASX: BAP). The Bapcor share price has pulled back recently, possibly due to concerns related to the broader retail industry. However, like CSL, the company itself has a strong track record for rewarding shareholders and with plenty of potential for growth, appears attractive today. The Bapcor share price is currently sitting at $5.49.
Rather than trying to time the market, investors should remember that it is time in the market that really counts. Rather than focusing on the market as a whole, try to focus your attention on owning high-quality businesses for the long-term and you should be rewarded in time.
