When I invest in ASX shares, I'm usually thinking in decades rather than months.
Markets move up and down all the time, but the businesses that consistently create value tend to do so over very long periods. That's why I like owning companies with strong competitive advantages, dependable earnings, and long runways for growth.
While there are plenty of quality companies on the ASX 200, a handful stand out to me as businesses I would be very reluctant to ever sell.
Here are two ASX 200 shares that I personally view as long-term hold forever investments.
Image source: Getty Images
Commonwealth Bank of Australia (ASX: CBA)
It's almost impossible to talk about high-quality ASX 200 shares without mentioning Commonwealth Bank.
The bank has spent decades building one of the most dominant financial franchises in the country. Its scale, brand strength, and customer relationships make it incredibly difficult for competitors to challenge its position.
What stands out to me most is how consistently the business performs. Even through economic cycles, Commonwealth Bank has continued to generate strong profits and deliver reliable dividends for shareholders.
The company has also invested heavily in technology over the years, which has helped it maintain a leadership position in digital banking.
Personally, I think that combination of scale, profitability, and technological capability is a big reason the market continues to place a premium valuation on its shares.
While the share price will inevitably have periods of volatility, I see Commonwealth Bank as the type of business that can continue compounding value over very long periods of time.
HUB24 Ltd (ASX: HUB)
Another ASX 200 share that I would struggle to part with is HUB24.
The company operates a rapidly growing investment platform used by financial advisers to manage client portfolios. Over the past decade, it has been one of the biggest beneficiaries of the shift toward modern wealth management platforms.
What I like most about HUB24 is the structural growth story behind the business.
The Australian wealth management industry continues to expand as more Australians accumulate savings and seek professional financial advice. At the same time, advisers are increasingly moving away from older platforms and consolidating onto newer, more capable systems.
HUB24 has been winning market share as part of this transition, and its funds under administration have grown rapidly as a result. Combined with operating leverage, this has driven exceptionally strong earnings growth over the past decade.
In my view, that combination of structural industry growth and increasing scale makes HUB24 one of the most compelling long-term growth shares on the ASX.
Foolish takeaway
Investing is rarely about finding the next stock that might double in a year.
More often, long-term wealth is built by owning exceptional businesses and giving them time to grow.
For me, Commonwealth Bank and HUB24 are two companies that fit that description. Both have strong competitive positions, proven management teams, and long-term growth opportunities.
