With high interest savings accounts barely keeping up with inflation, I continue to believe that the share market is a better place to put your money right now.
Three shares that I feel could provide strong returns for investors are listed below. Here's why I would invest $5,000 into them:
Cochlear Limited (ASX: COH)
I think this hearing solutions company could be a great place to invest $5,000 with a long term view. This is due to the quality of its products and the favourable tailwinds it has exposure to which could lead to increasing demand over the next few decades. In respect to the latter, the World Health Organization estimates that 524 million people were aged 65 or over in 2010. It expects this number to almost triple to around 1.5 billion by 2050.
REA Group Limited (ASX: REA)
Trading conditions certainly have been tough for the realestate.com.au operator over the last 12 months. Falling house prices have led to fewer properties coming to market and therefore lower property listings. Despite this, the quality of REA Group's business model means it has still managed to deliver solid profit growth in FY 2019. Pleasingly, with recent data suggesting that the Australian housing market could be bottoming, there's a good chance that house prices will rebound in 2020. If this happens it could lead to an increase in property listings and an acceleration in the company's profit growth.
WiseTech Global Ltd (ASX: WTC)
I believe this logistics solutions company could be another great option for those funds. I feel WiseTech Global is well-positioned to grow its earnings at a very strong rate over the coming years due to the quality of its CargoWise One platform and the way it has quickly established itself as a vital part of the global supply chain. CargoWise One is a single-platform software solution which provides an enterprise-class management system for logistics companies across 130 countries. Strong demand from many of the biggest players in the industry means that the company expects to achieve FY 2019 revenue in the range of $326 million to $339 million. This will be a year on year increase of between 47% and 53%.
