Time to switch to gold?

With the S&P/ASX 200 Index (ASX: XJO) in full recovery mode, you would think that investors everywhere are basking in the gains that both ASX shares and share markets around the world have given investors over the past 3 months. After all, the ASX 200 is up more than 30% since its 23 March low.

But according to reporting in the Australian Financial Review (AFR), the world’s richest investors are not coming to the party. Instead of barrelling back into shares, the world’s ultra-rich are instead turning to the oldest of investments – gold.

According to the AFR report, advisers to the world’s ultra-rich are recommending as much as a 10% allocation to gold, which is far above the token amounts that were apparently being recommended before the COVID-19 pandemic.

This is despite gold prices rising more than 14% since the start of the year. One troy ounce of gold will set you back around US$1,723 today – or $2,520 in our dollars.

So why are the ultra-rich ignoring shares in favour of gold?

Well, it’s out of fear in my view. Fear of a second wave of coronavirus infections, fear of loose monetary policy, fear of asset bubbles and fear of inflation.

See, shares (despite their many benefits) are not an ultra-safe place to store your wealth if capital preservation is a priority, as we saw in March. And right now, there are growing signs that the unprecedented amount of government intervention in the markets (in particular the US) is driving the rally in shares prices we have been witnessing of late.

What happens if (or when) the US government starts tapering off quantitative easing and bond-buying? Or what happens if it never does? I think these are the questions that the ultra-rich are asking themselves right now. And the logical conclusion for a worst-case scenario is using gold.

Should we all copy the ultra-rich and buy gold?

I do think it can be advantageous to emulate and take lessons from wealthy investors. But I also think that the priorities of the ultra-rich and the everyday investor are disparate. The ultra-wealthy (in my opinion) are typically more concerned about the preservation of wealth rather than building wealth. In this context, I think using gold makes sense.

But I don’t think it makes sense for us Foolish investors who are trying to build long-term wealth with shares. Even though ASX shares are volatile, history shows us that they remain the best asset class for building wealth over long periods of time. We can’t really say the same about gold in my view.

So instead of selling all of your shares and buying up bullion, I think most investors will be better off just sticking to a long-term portfolio of quality ASX shares.

More reading

• 2 blue chip ASX 200 dividend shares to buy next week
• These were the best performers on the ASX 200 last week
• Short-sellers are stepping up their attack against these popular ASX shares
• ASX 200 up again, ASX retailers make big gains
• These 3 ASX ETFs are yet to recover from the market crash

Motley Fool contributor Sebastian Bowen has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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To say we live in uncertain times is possibly the greatest understatement of the year so far. The market is rocking back and forth from peaks to troughs in response to rapidly-changing world events. If the share market were to drop again by, say, 10% then I would be looking at these shares to buy for my portfolio.

Second chance value shares

For me, a value share is a good company that is underappreciated by the investing community. Moreover, when crashes happen good companies often get trampled in the rush for the exits. In March there were dozens of good companies selling at great prices. 

Fortescue Metals Group Limited (ASX: FMG) is one of the shares I bought heavily during the ASX trough. I think it is undervalued even today. However, if I can get it cheaper I will try to do that. I am happy to wait to see if it is going to dip again before the economy starts to normalise. Fortescue is selling at a reasonable price to earnings ratio (P/E) of around 6.

Another great value ‘buy’ if the market falls would be Wesfarmers Ltd (ASX: WES). I do not own this share at the moment but I would buy in if the price were to fall by a reasonable amount. I like what this company is doing to reduce poor-performing retail outlets. Recent work to release capital and closing down smaller stores took courage. Also, and most importantly, Wesfarmers has an online asset that is a direct competitor to Kogan.com Ltd (ASX: KGN).

Great growth shares to buy

Of course, everyone wants the chance to buy into Afterpay Ltd (ASX: APT) if the share price lowers again. Personally, though, I think this is pretty unlikely. For me, I would be very interested in investing in EML Payments Ltd (ASX: EML) if the price was to lower to a more reasonable level. Currently, it has a P/E of 102 which indicates the market thinks it will earn a lot in the near future. For me, this seems a little high.

Zip Co Ltd (ASX: Z1P) has nearly doubled in the past month. It now has a market capitalisation of $2.39 billion versus the Afterpay market cap of $15 billion. At best this company has to increase its value 6 times, which I do not believe it’s likely to. I would buy into Zip Co if it reduced its market cap by 25 – 50%. Given the tenuous nature of the market and of these new buy now pay later shares, I think that is a possibility.

Foolish takeaway

There is a lot of value on the share market today, and a lot more opportunity if it were to fall again in the near future. One of the keys to investing is to be patient. Another important discipline is to not get worked up if you ‘miss out’ on an opportunity. There will be others, and there is always something you can do to grow your capital. 

More reading

• Consider these blue chip ASX shares for strong dividend yields
• How to turn $20,000 into $250,000 in 10 years with ASX shares
• How to become a millionaire in 25 years with $20 a day
• These were the worst performers on the ASX 200 last week
• Australian retail sales up 16.3% in May

Daryl Mather owns shares of Fortescue Metals Group Limited. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of Emerchants Limited and ZIPCOLTD FPO. The Motley Fool Australia owns shares of and has recommended Kogan.com ltd. The Motley Fool Australia owns shares of AFTERPAY T FPO and Wesfarmers Limited. The Motley Fool Australia has recommended Emerchants Limited. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

The post Which shares to buy if the ASX tumbles appeared first on Motley Fool Australia.

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If you’re planning to add some dividend shares to your portfolio next week, then the ones listed below could be worth considering.

Here’s why I think they are top options for income investors right now:

BHP Group Ltd (ASX: BHP)

If you don’t mind investing in the mining sector, then you might want to consider buying BHP. I think it is a great dividend option right now due to its generous yield and positive outlook. Thanks to its world class operations and their low costs, I believe BHP is well-positioned to continue generating high levels of free cash flow over the coming years. Especially with iron ore at such strong prices.

And given the strength of its balance sheet, I suspect the majority of its free cash flow will be distributed to shareholders through dividends. In light of this, I estimate that the mining giant’s shares currently provide investors with a fully franked ~5% FY 2021 dividend yield.

National Australia Bank Ltd (ASX: NAB)

Another option for investors to consider buying for dividends is NAB. The banking giant’s shares have fallen heavily this year due to concerns over a potential spike in bad debts because of the pandemic. While I feel a rise in bad debts is inevitable, I’m optimistic the provisions it has made are more than enough to cover the potential damage.

In light of this, I feel the worst is behind the bank and now would be a good time to consider a long term investment in its shares. Especially for income investors in this low interest rate environment. At present, I estimate that NAB’s shares offer a generous fully franked 5.2% FY 2021 dividend yield. This is materially better than the interest rates offered with its term deposits and savings accounts.

More reading

• Consider these blue chip ASX shares for strong dividend yields
• These were the best performers on the ASX 200 last week
• Short-sellers are stepping up their attack against these popular ASX shares
• ASX 200 up again, ASX retailers make big gains
• The ASX big bank stock with the best forecast dividend yield for the new year

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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The price/earnings (p/e) ratio is one of the most commonly used investing metrics.

There are lots of different ways to evaluate shares. You can look at the share price, the market capitalisation, the net profit, the dividend yield, the net tangible assets (NTA), the return on equity (ROE), the (free) cashflow and so on.

Different sized shares make different amounts of profit. How are you supposed to decide whether Commonwealth Bank of Australia (ASX: CBA) or Telstra Corporation Ltd (ASX: TLS) is cheaper?

The price/earnings ratio allows investors to try to compare different businesses based on how expensive they are compared to their earnings, even if they’re from different industries and there are big market capitalisation differences.

How the price/earnings ratio works

The price/earnings ratio will tell you what multiple the current share price is compared to the earnings.

I’ll try to give you an easy example so you can get your head around it. Imagine there’s a café or shop that makes $100,000 of profit a year after paying for all expenses and costs. How much would you buy that business for? Assuming the business is going to be profitable for the foreseeable future, you’d probably pay more than $100,000. If you’d be willing to pay $300,000 then the business would have a price/earnings ratio of 3.

If that shop had lots of growth potential then perhaps you’d be willing to pay $500,000 or maybe even $1 million. That would be a p/e ratio of 5 or 10.

With big ASX shares like Telstra or Macquarie Group Ltd (ASX: COH), you can do the same sort of calculation. For example, in FY20 Macquarie made $7.645 of diluted earnings per share and it currently has a share price of $122, which translates to a price/earnings ratio of 16. This could also be described as 16x FY20’s earnings.

How to compensate for faster-growing businesses

It starts getting tricky when you try to factor in the growth of a business. You could have one business with a FY20 p/e ratio of 20 and another with a FY20 p/e ratio of 30. One looks a lot more expensive than the other on this year’s earnings.

But what if the second business is projected to double its profit in FY21 and the first doesn’t grow profit at all? Compared to FY21’s future earnings, the first business has a forward p/e ratio of 20 and the second has a forward p/e ratio of 15. The second business now looks cheaper.

If a business is growing at a good pace then you need to think about the estimated earnings of future years, not just the current year.

The positives of using the price/earnings ratio

I like how universal the p/e ratio can be. You can use it to compare a $100 billion giant and a small $100 million company.

The price/earnings ratio is easy to calculate. All you need is the share price and the earnings, which is available in the annual report. For future earnings you’ll have to find an earnings projection or do some estimates yourself, which can be tricky.

Investors should focus on (long-term) profitability, so it’s good to look at a metric that compares profitability of different shares.

The negatives

However, the p/e ratio can be simplistic at times in my opinion.

The accounting profit, and therefore the p/e ratio, can give an impression of excessive profitability. Depreciation is one of the worst types of expenses, the money goes out of the door whilst the deduction takes several years to be fully recognised. Some businesses may end up (legitimately) spreading out the cost of depreciation, which boosts near-term profit. There are some businesses that just fully expense things upfront in their accounts – I respect these companies.

Also, with some businesses you may see revenue recognised quite a long time before the cash is actually received into the bank. There are risks with this. It’s important to look at the ongoing cash conversion. Indeed, some investors just prefer to look at the operating cashflow or the free cashflow rather than the accounting profit.

If you just focus on the p/e ratio you may miss cash generative businesses. Some businesses like Transurban Group (ASX: TCL) and Sydney Airport Holdings Pty Ltd (ASX: SYD) have high annual non-cash costs like depreciation. If you focus on just the profit then you may miss how much annual cash they (normally) produce which can be distributed to shareholders.

The price/earnings ratio doesn’t work well for loss-making businesses – there’s no ‘p’ because there isn’t any profit yet. Avoiding loss-making businesses could mean missing out on a lot of future capital gains. Businesses like Pushpay Holdings Ltd (ASX: PPH) just needed to reach a certain scale before they show very attractive levels of profitability.

Foolish takeaway

I think the price/earnings ratio is a useful metric that can be used to quickly look at most businesses. However, there are some situations where it’s not the best metric to use. It’s also important to understand the relationship between the profit and cashflow for each business. I like to use the forward p/e ratio to assess the valuation of growth shares. 

More reading

• Consider these blue chip ASX shares for strong dividend yields
• How to become a millionaire in 25 years with $20 a day
• ASX 200 up again, ASX retailers make big gains
• The ASX big bank stock with the best forecast dividend yield for the new year
• Brokers just upgraded these ASX 200 stocks to “buy” today

Motley Fool contributor Tristan Harrison has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended Macquarie Group Limited, PUSHPAY FPO NZX, and Telstra Limited. The Motley Fool Australia owns shares of Transurban Group. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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S&P/ASX 200 Index (ASX: XJO) shares are a great hunting ground to find good opportunities for your portfolio.

To get into the ASX 200 a business must have already shown a sustained period of growth or stability.

There are some very large ASX shares like Westpac Banking Corp (ASX: WBC) and Telstra Corpoation Ltd (ASX: TLS) which are popular but I don’t think they have a lot of growth potential. They are mature businesses which already command a large market share. 

Instead, I think these ASX 200 shares would be good picks next week for the long-term:

Share 1: InvoCare Limited (ASX: IVC)

The funeral operator has seen its share price decline by 24% since the start of its COVID-19 decline. It’s a morbid idea but I think it has solid return potential.

InvoCare has been affected by COVID-19 this year. There’s no doubt about that. The restrictions on funeral numbers will reduce FY20 earnings. But thankfully Australia has only had a small number of coronavirus deaths compared to many other countries.

This probably means that the actual 2020 death rate will be similar to the projected death rate. Death volumes are expected to grow by 1.4% per annum between 2016 to 2025 and then increase by 2.2% per annum from 2025 to 2050. This is a powerful long-term tailwind. 

Indeed, there may even be less deaths in 2020 because of impacts like increased personal hygiene. This is a good thing for the country and for families. For InvoCare, it’s a delay of funeral numbers. But not lost entirely.

The ASX 200 share has a solid dividend record. I think good dividends will continue to flow from InvoCare in future years. With InvoCare, I think investors could see solid total returns with a good dividend yield and steady earnings (and hopefully share price) growth. Its capital raising also improved the strength of the balance sheet.

Interest rates are now incredibly low so bond-like businesses such as InvoCare theoretically should be valued higher.

It’s priced at 19x FY22’s estimated earnings.

Share 2: Brickworks Limited (ASX: BKW)

In my opinion, there are few ASX 200 shares that make more sense than Brickworks in book value terms.

Brickworks currently has a market capitalisation of $2.29 billion. Its industry property trust stake is worth $710 million (growing) and its shareholding of Washington H. Soul Pattinson and Co. Ltd (ASX: SOL) is worth $1.84 billion. Those two divisions have a combined pre-tax value of $2.55 billion.

I like that Brickworks’ dividend is entirely supported by the cash flow paid by those two assets.

However, the rest of the business is also exciting for the long-term. Brickworks recently acquired three brickmakers in the US. That strategy now means that Brickworks is the leading brickmaker in the northeast of the US. America is a huge market and there’s plenty of long-term growth potential for Brickworks, particularly with efficiency gains.

The ASX 200 share is best known for its Australian building product subsidiaries. Bricks, paving, masonry, precast, roofing – it sells a lot of different products.

COVID-19 is probably going to cause the Australian construction sector to have a tough year. But construction is usually cyclical. When immigration returns there is likely to be a bounce back of activity, which would be beneficial for Brickworks. The $25,000 HomeBuilder scheme could also help Brickworks in the shorter-term.

A bonus with Brickworks is that it has one of the best dividend records around. It hasn’t cut its dividend for over 40 years. I think the grossed-up dividend yield of 5.5% looks attractive to me.

Foolish takeaway

I really like the look of both of these ASX 200 shares. Many others may be too expensive considering all of the COVID-19 uncertainty. At the current prices I’d probably go for Brickworks because of its defensive property and investment assets. But I’d happily buy both next week.

More reading

• Why I’m desperate to add CSL and 2 other ASX shares to my portfolio in 2020
• What are the best ASX shares for dividends?
• Top brokers name 3 ASX 200 shares to sell today
• Forget bank interest, try these ASX 200 dividend shares!
• Why G8 Education, InvoCare, Megaport, & Webjet shares are tumbling lower

Motley Fool contributor Tristan Harrison owns shares of Washington H. Soul Pattinson and Company Limited. The Motley Fool Australia owns shares of and has recommended Brickworks, Telstra Limited, and Washington H. Soul Pattinson and Company Limited. The Motley Fool Australia has recommended InvoCare Limited. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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Interest rates look set to remain at historic lows, at least for the next few years. So, keeping your money in a high-interest savings account or a term deposit will barely keep up with inflation. Maybe you’re currently in or nearing retirement, or maybe you are still working and just looking for a handy way to supplement your income stream?

Either way, here are 3 blue chip ASX shares to consider for strong dividend yields: Macquarie Group Ltd (ASX: MQG), Wesfarmers Ltd (ASX: WES) and Telstra Corporation Ltd (ASX: TLS).

All 3 of these companies pay attractive dividends and are well-positioned for long term growth.

Macquarie

Macquarie is a global financial services business with a core focus on international investment banking.

In terms of ASX listed blue chip shares to select from, I definitely prefer Macquarie over Australia’s big 4 major banks: Commonwealth Bank of Australia (ASX: CBA), Westpac Banking Corp (ASX: WBC), National Australia Bank Ltd. (ASX: NAB) and Australia and New Zealand Banking GrpLtd (ASX: ANZ).

I’m more attracted to Macquarie due to the quality and diversity of its earnings base. In particular, it is less exposed to downturns in the local residential property market. It could be quite a rocky road ahead for this sector over the next few months.

Macquarie currently provides investors with a forward fully franked dividend yield of 3.59%.

Wesfarmers

Wesfarmers is a highly diversified business. It has operations in retail segments including general merchandise and office supplies. It also has exposure to the industrial sector with operations in energy and fertilisers, and industrial and safety products.

This high level of diversification across a broad spectrum of the Australian economy is the core strength of this blue chip ASX share.

Wesfarmers business performance during the coronavirus pandemic has been stronger than most. It revealed in early June that it has experienced particularly strong demand from both its Bunnings and Officeworks stores.

Also, Wesfarmers offers investors a forward fully franked dividend yield of around 3.55% right now.

Telstra

Another blue chip ASX share I would consider buying now for strong dividend yield is Australia’s largest telco provider, Telstra. It currently offers investors a handy forward fully franked dividend yield of around 3.1%.

Telstra has been restructuring into a leaner company, so it can remain in a dominant no. 1 market position. Telstra also has had to absorb increased investments in its 5G network to gain an upper hand in this emerging market. However, these investments are now paying off. It is currently a world leader in terms of 5G network rollouts.

I believe that 5G could be a real game-changer for Telstra. The 5G network has the potential to offer even faster broadband speeds than the NBN.

More reading

• 2 blue chip ASX 200 dividend shares to buy next week
• What is the price/earnings (p/e) ratio?
• The ASX big bank stock with the best forecast dividend yield for the new year
• Australian retail sales up 16.3% in May
• Brokers just upgraded these ASX 200 stocks to “buy” today

Motley Fool contributor Phil Harpur owns shares of Australia & New Zealand Banking Group Limited, Commonwealth Bank of Australia, Telstra Limited, and Westpac Banking. The Motley Fool Australia owns shares of and has recommended Macquarie Group Limited and Telstra Limited. The Motley Fool Australia owns shares of Wesfarmers Limited. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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The potential for further stock price declines after the recent market crash may dissuade some investors from buying high-quality businesses today.

However, predicting the stock market’s performance over a short time horizon can be problematic due to the wide range of inputs that can affect its prospects.

Therefore, buying companies while they offer wide margins of safety could be a shrewd move. They may be able to deliver impressive performance in the coming years.

Predicting a stock market crash

Trying to forecast when a market crash will occur is exceptionally difficult. For example, the recent pandemic was an unprecedented event that was not on the radar of the vast majority of investors. Trying to predict what happens next when risks such as a possible second wave and geopolitical challenges between the United States and China are ongoing may prove to be an equally difficult task.

Other crises such as the global financial crisis were also not foreseen by many investors. And, perhaps more importantly, the scale of recovery from them was not anticipated by most investors while the economic outlook was at its worst and stock prices were at their most attractive.

Buying undervalued stocks

Therefore, predictions about the prospect of a further market crash may prove to be of little value in the coming months. By contrast, a strategy that focuses on buying the best-quality companies in an industry that faces an uncertain future could be highly profitable. They may be in a strong position to survive a period of economic difficulty, and could even seek to expand their market positions through taking market share away from competitors.

Moreover, even if the stock market experiences a further downturn, its recovery prospects appear to be bright. The stock market has been able to produce annualised total returns in the high-single digits over the long run. It has also successfully recovered from even its very worst bear markets to rise to new record highs. Therefore, a strategy of purchasing stocks and holding them for the long term is likely to yield a higher return that that on offer via other mainstream assets – especially since interest rates are expected to remain low over the medium term.

Portfolio management

Of course, investors may wish to hold some cash over the coming months in case there is a market crash. Doing so may provide them with the opportunity to capitalise on short-term mispricings among high-quality companies.

However, in many cases, stocks appear to include wide margins of safety at the present time that reflect the risks they face during an uncertain period for the world economy. Buying a diverse portfolio of them now and holding them through what could prove to be a volatile period for stock prices may lead to high returns that improve your long-term financial outlook.

More reading

• 2 blue chip ASX 200 dividend shares to buy next week
• What is the price/earnings (p/e) ratio?
• 2 great value ASX 200 shares I’d buy next week
• Consider these blue chip ASX shares for strong dividend yields
• How to turn $20,000 into $250,000 in 10 years with ASX shares

Motley Fool contributor Peter Stephens has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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I’m a massive fan of buy and hold investing and continue believe it is the best way for investors to grow their wealth.

To demonstrate how successful it can be, every so often I like to pick out a number of popular ASX shares to see how much a single $20,000 investment 10 years ago would be worth today.

This time around I have picked out the three ASX shares that are listed below:

CSL Limited (ASX: CSL)

Over the last decade CSL has become one of the largest biotech companies in the world. This has been driven by its high level of investment in research and development, which has created a portfolio of lifesaving and highly profitable therapies. This portfolio has underpinned consistently strong earnings and sales growth over the last 10 years, which has ultimately led to its shares generating an average total return of 24.7% per annum. This would have turned a $20,000 investment in the company’s shares into $182,000 today. The good news is that CSL still appears to have a long runway for growth thanks to its very promising development pipeline and the positive outlooks of its CSL Behring and Seqirus businesses.

Fortescue Metals Group Limited (ASX: FMG)

The Fortescue share price has been a strong performer over the last 10 years. It may not have been a smooth ride, but its shares have beaten the market over the period with an average total return of 14.55% per annum. The majority of these gains have been made over the last five years thanks to favourable iron ore prices, the material improvement in its balance sheet, and a significant reduction in its operating costs. This means that a $20,000 investment in its shares in 2010 would be worth $78,000 today.

Nanosonics Ltd (ASX: NAN)

Over the last 10 years the Nanosonics share price has been among the best performers on the market. Thanks to the strong growth in the installed base of its trophon EPR ultrasound probe disinfection system and the increasing recurring consumable revenues the product is generating, this infection control specialist’s shares have generated a total return of 28.42% per annum. This would have turned a $20,000 investment in its shares 10 years ago into just under $250,000 today. Pleasingly, with the company on the cusp of releasing several new products, I suspect this strong form could continue over the next 10 years.

More reading

• These were the worst performers on the ASX 200 last week
• 3 ASX growth shares that could be future market beaters
• Why I’m desperate to add CSL and 2 other ASX shares to my portfolio in 2020
• Is the Downer EDI share price in the buy zone?
• Where to invest for reliable dividend shares

James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of CSL Ltd. and Nanosonics Limited. The Motley Fool Australia has recommended Nanosonics Limited. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

The post How to turn $20,000 into $250,000 in 10 years with ASX shares appeared first on Motley Fool Australia.

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