Invest for the long-term, you hear ad nauseum.
But it's easier said than done.
If you don't pick the right businesses to invest, your "reward" for sticking with your ASX shares through thick and thin could be seeing your wealth shrink.
Ouch.
That's why among all the stock tips you hear on here and everywhere, it's worth noting the ones that the experts have marked as long-term prospects.
Those are the stocks in which you might have more confidence holding onto even when the valuation becomes volatile in the immediate future.
Here is a couple of ASX shares that are fit the bill:
'Benefitting from a tight labour market'
Wilsons investment advisor Peter Moran is currently a fan of PeopleIn Ltd (ASX: PPE) because of Australia's historic low unemployment rate.
"PeopleIn provides human resources outsourcing and contract staffing to a diverse range of sectors, including health and community services, early learning, government and manufacturing," Moran told The Bull.
"PeopleIn is benefitting from a tight labour market."
The long-term driver for the business, according to Wilson, is the nature of its clientele.
"PPE is also attractive for its positioning in defensive sectors, which are expected to experience strong growth over the long term," he said.
"We hold an overweight rating."
The PeopleIn share price has dropped 27% year to date, but has spiked up 24.9% since a mid-June trough.
It seems Moran's peers are unanimously in agreement with him.
According to CMC Markets, all six analysts who currently cover PeopleIn rate it as a buy, with five of them labelling it a strong buy.
Immediate earnings downgraded, but still great balance sheet
The Allkem Ltd (ASX: AKE) share price has ridden the lithium thematic all the way home to be almost 50% up so far in 2022.
According to Ord Minnett senior investment advisor Tony Paterno, his team has recently downgraded the earnings expectations for the miner due to "lighter production".
But it's still a worthy long-term buy.
"The stock continues to show valuation support, based on a recent price-to-net-present-value multiple of 0.76 times," he said.
"Anticipated growing free cash flow yields of 5% to 17% between fiscal years 2023 and 2025 also appeals. There's no stress on the balance sheet."
With lithium prices reaching phenomenal highs this year, experts are divided as to whether the producers have hit their peak.
Ten out of 17 analysts currently surveyed on CMC Markets are rating Allkem shares as a strong buy, but six others are convinced it's a hold.
