There aren't many shares on the ASX that would suit most investors. A lot of shares aren't high quality and some aren't growing fast enough to provide market-beating returns.
However, there is a small group of businesses that I think would be good for anyone's portfolio. Here are four of them:
Ramsay Health Care Limited (ASX: RHC)
Ramsay is the largest private hospital operator in Australia and one of the largest in the world. Australia's population is steadily ageing, which will increase the potential pool of patients.
The business has been one of the most consistently growing blue chips on the ASX and I don't think that's about to change.
Ramsay is currently trading at 25x FY18's estimated earnings with a grossed-up dividend yield of 2.46%.
InvoCare Limited (ASX: IVC)
InvoCare is the largest operator of funerals in Australia with a market share of around 33%. There is sadly an inevitable number of deaths each year which makes InvoCare's revenue quite reliable.
The death rate of Australia is predicted to steadily increase over the next two decades which could fuel a boom for funeral operators.
InvoCare is currently trading at 25x FY18's estimated earnings with a grossed-up dividend yield of 4.35%.
Washington H. Soul Pattinson and Co. Ltd (ASX: SOL)
Soul Patts is as close to a Warren Buffett stock as you can get on the ASX.
It has a number of large positions in a diverse group of companies such as TPG Telecom Ltd (ASX: TPM), Brickworks Limited (ASX: BKW) and Australian Pharmaceutical Industries Limited (ASX: API).
Soul Patts has grown its dividend every year since 2000. It's currently trading at 14x FY18's estimated earnings with a grossed-up dividend yield of 4.44%.
REA Group is the property website owner building an empire of sites around the world. It's the market leader in Australia and has large stakes in property sites in Asia and the USA.
If investors want to get exposure to property without buying an investment property then this is the perfect way to do it.
REA Group is currently trading at 32x FY18's estimated earnings with a grossed-up dividend yield of 1.79%
Foolish takeaway
All four are solid businesses with long-term growth potential and satisfactory dividends.
At the current prices I think Ramsay, InvoCare and Soul Patts are all buys. REA Group is a bit too expensive for me at the moment, I'm going to wait over the next year for the share price to hopefully be in the $50s again before buying.
