I would probably pick the following 3, if I really had to buy now and hold for 5+ decades.
1. L’Oréal $OR (+1.5%)
Why it’s high conviction:
- Decades of consistent, organic growth
- Massive tailwinds from skincare, anti-aging, and premiumization — especially in emerging markets
- Exceptionally high ROIC and brand power
- Very resilient and non-cyclical — even in downturns, people keep spending on self-care
- A textbook example of a long-term compounder in the consumer space
2. S&P Global $SPGI (-0.52%)
Why it’s high conviction:
- Near-monopoly in credit ratings, indexes, and financial analytics
- Asset-light, very high margins and ROIC
- Direct beneficiary of long-term financial trends like ETFs and increasing regulation
- Highly predictable revenue streams, capital-efficient growth
- A “picks-and-shovels” play on global capital markets
3. Microsoft $MSFT (+0%)
Why it’s high conviction:
- Dominates key structural trends like Cloud, AI, and enterprise software
- Huge share of recurring revenue, hard to disrupt
- Consistently high margins and free cash flow
- Strong moat across multiple segments — productivity, infrastructure, dev tools
- Grows like a tech stock, defends like a consumer staple
