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TFSA Investors: 10 Stocks Every Canadian Should Own in 2023 [PREMIUM PICKS]


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Hello!

To truly succeed in the stock market, my colleagues and I at Motley Fool Stock Advisor believe you should own at least 15 stocks.

So where should you start?

Our yearly list of “Starter Stocks” is our attempt to answer that.

If you’re new to investing and want to start building wealth in your TFSA, we suggest buying three Starter Stocks that interest you and then purchasing more companies when you’re ready.

You should feel comfortable owning any of our recommended Starter Stocks for the long haul; not only do they have the strength to ride out a wobbly economy, but they’re also built for growth!

Stock Advisor “Starter Stock” Pick #1:

Constellation Software (TSX:CSU)

When it comes to naming Canada’s most successful technology companies, the list tends to be pretty short. And safe to say, most would not place Constellation Software (TSX:CSU) on this list. After all, it’s hardly a household name.

However … the 2,000% return that this company has generated for its investors over the past decade (as of December 2022) is the stuff that investing dreams are made of.

And while we don’t expect that kind of return in the decade ahead because of the law of large numbers, the formula for success that’s driven Constellation’s growth remains in play. We expect it will prove every bit as effective as it has.

Constellation is a consolidator in the global technology industry. It buys underappreciated, niche software companies and provides them resources to improve operations and grow. Capital allocation is key to this formula, and we view Constellation’s founder, Mark Leonard, and the team around him as second to none on this front.

This is a prime example of a company that you can put a sizable portion of your investing funds into and then just leave alone. To the point that, the less you think about it, the better! Thus making Constellation Software a perfect fit for a Motley Fool Stock Advisor Starter Stock.

“Starter Stock” Pick #2

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