There is a reasonably small group of shares on the ASX that are high quality, have good growth prospects and should be market-beaters.
Here are four I think are no-brainers:
REA Group Limited (ASX: REA)
REA Group is the best way to make money from property on the share market in my opinion.
It owns realestate.com.au, Australia's leading property site, which attracts the most visitors and sellers every year. Being the best means people keep visiting the website and helps it retain its number one status. It also means that it can increase prices at a strong rate every couple of years with no negative effect.
REA Group is also growing nicely overseas in Asia and the USA. This could be the next stage of growth with both regions having much larger populations.
REA Group is currently trading at 33x FY18's estimated earnings.
Ramsay Health Care Limited (ASX: RHC)
Ramsay is one of the best ways to benefit from Australia's ageing demographics. It's one of the biggest private hospital operators in the world.
The number of patients who need to visit a hospital over the coming decades is expected to significantly increase. This should be a good boost for Ramsay as it grows its total number of hospitals and beds in the countries it operates in.
Ramsay is currently trading at 23x FY18's estimated earnings.
Cochlear Limited (ASX: COH)
Cochlear is world renowned for its hearing implants that can make a huge difference in people's lives.
People are happy to spend a lot on improving their lives and Cochlear has carved out a high-quality space for its products and brand. It should be able to keep charging more with new features like being able to stream music directly to the implant from a phone.
Cochlear is currently trading at 39x FY18's estimated earnings.
Altium is one of the most exciting technology companies on the ASX in my opinion.
It develops electronic PCB software for engineers at organisations like NASA, BMW, Lenovo and Cochlear to use.
The world is becoming increasingly technological and complex, Altium should keep benefiting strongly from this trend.
Altium is trading at 33x FY18's estimated earnings.
Foolish takeaway
I think all four of these companies are worth a spot in your portfolio. However, it's important to choose the right time to buy the above shares, buying at any cost could be an expensive mistake.
At the current prices I think only Ramsay is trading at good value, I'd wait for the other three to be cheaper before taking the plunge.
