It can be hard to know which ASX shares are the best ones to buy when you're starting out.
If you're a new investor and looking to create a solid portfolio foundation, here are 3 good quality shares with a strong long-term outlook.
CSL Limited (ASX: CSL)
The CSL share price has been on fire in recent years and I think it's a great buy for beginners. CSL is a leading blood plasma and medical technology company that has a strong research and development pipeline.
On a stock-split-adjusted basis, the CSL share price is up an astonishing 43,498.68% since its 1994 IPO. That's thanks in a large part to its focus on innovation as it has established a large moat around its business.
CSL boasts a market capitalisation of $150.31 billion which makes it the second-largest ASX 200 share on the market. I like the non-cyclical nature of the Healthcare sector and think CSL is a great foundation buy.
Wesfarmers Ltd (ASX: WES)
Wesfarmers is a Perth-based conglomerate and another big ASX 200 company with strong share price growth.
The group owns such brands as Kmart, Officeworks and Bunnings Warehouse here in Australia. Not all investors are looking to invest in conglomerates due to the complicated nature of their investments, but I think Wesfarmers is worth a look.
Shares in the ASX 200 conglomerate are up 36.05% in the last 12 months, while still yielding 3.93% per annum. I like Wesfarmers as a set-and-forget foundation stock with a really strong balance sheet.
Commonwealth Bank of Australia (ASX: CBA)
Many new investors might be wary of investing in the ASX 200 banks after the 2018 Royal Commission.
However, given Australia's economy is so heavily reliant on banks and the mining sector, it is hard to avoid. While I don't think the CBA share price will be a huge outperformer in the short-term, it does come with a tasty dividend.
If you're new to investing, the 4.79% dividend yield from CBA shares even while near a 52-week high could be very handy income in 2020.
