As I said yesterday, in its most recent Westpac Banking Corp (ASX: WBC) Weekly release, the bank has tipped the Reserve Bank to hold interest rates at the record low of 1.5% until at least December 2018.
Because of this I think the share market is a far better place to put your money than a high interest savings account.
If I had $15,000 sitting in a bank account now I would consider spreading it evenly across these three high-quality shares:
The CSL Limited (ASX: CSL) share price may be one of the best performers so far this year, but I don't believe it is too late to snap up this fast-growing biotherapeutics company's shares. In my opinion CSL is one of the highest quality businesses on the Australian share market and a great candidate for a buy and hold investment. In the last 10 years its shares have provided investors with a staggering average annual return of 18.4%. You'll not find a return like that from a savings account!
The SEEK Limited (ASX: SEK) share price may have gone sideways during the last 12 months, but I expect it to be onward and upward over the next few years thanks to its international operations. On a constant currency basis international revenue rose 11% in the first-half of the year despite weak macro conditions in the majority of its international markets. The key driver was once again its China-based business Zhaopin, which saw revenue increase 23% during the period. Impressively Zhaopin has achieved 10 consecutive quarters of 20%+ growth in both unique hirers and online revenue.
The Webjet Limited (ASX: WEB) share price has climbed a staggering 81% in the last 12 months. Whilst the huge gains may now have gone, I believe this online travel agent can still provide investors with market-beating returns over the next few years. In its recent half-year result the company once again reported industry-beating bookings growth from its numerous brands. This helped the company deliver a stunning 86.9% increase in half-year net profit after tax.
