Forget artificial intelligence, cryptocurrencies and 3D printing.
You don't need to jump on the latest fad to rake in amazing returns from ASX shares.
Just pick out quality businesses with unique products or services, and you could turn $100,000 into $1 million in only 10 years. Maybe you don't even have to wait a full decade.
You don't believe me?
Here are three examples playing in very different realms that have made their investors filthy rich:
Image source: Getty Images
1. Global leader of what humankind depends on now
Altium Limited (ASX: ALU) is an Australian-founded company that makes electronic design software.
Specifically, it helps engineers design printed circuit boards, which are the basic building blocks of modern computers.
Solaris Investment Management chief investment officer Michael Bell is a fan of the business, describing it as "strong leaders in their industry with strong pricing power".
And he loves that Altium displays what his team calls strong "earnings quality", which is not using accounting loopholes to make the EBITDA look better than it really is.
"They expense capex. That is really important to see that. That gives us confidence to invest in these companies."
So, what would have happened if you bought $100,000 worth of Altium shares on 20 September 2013?
You will have more than $1.7 million now.
2. Investing for growth without any debt
While Pro Medicus Limited (ASX: PME) also makes software, its clientele is completely different to Altium.
The Melbourne company supplies imaging tools for hospitals and clinics, and has been doing this since the 1980s.
The Motley Fool's Tristan Harrison this month pointed out a massive pro for Pro Medicus, considering it's a business that's been growing so rapidly.
"The ASX 200 [company] is expanding in North America and Europe and is investing for growth," he said.
"It finished FY23 with $121.5 million of cash and other financial assets while remaining debt free."
Pro Medicus shares always seem to be derided as "expensive" by its critics. But that hasn't stopped investors making a ton of money over the years.
Say you bought a $100,000 batch of Pro Medicus shares 10 years ago.
What would it be worth now? Are you sitting down?
That investment would now be $16.17 million.
3. Retire now
Moving away from technology, let's take a look at a stock from a definitely old-world industry.
We know now that lithium, as an important battery ingredient, is all the rage for a net zero future.
But if you had the nous to realise this a few years ago, you could have made an outrageous return from Liontown Resources Ltd (ASX: LTR) shares.
On 19 September 2013, the stock price sat at just 1 cent as the company explored for opportunities.
Now the Liontown share price is hovering at the $3 mark, meaning $100,000 put in 10 years ago would be worth $30 million.
In fact, there is one particular investor that largely used Liontown shares to turn $156,000 into $58 million over just the past five years.
The lithium producer is now the subject of a takeover proposal from US giant Albemarle Corporation (NYSE: ALB).
