We've all heard how veteran investors became rich through long-term investing in behemoths like CSL Limited (ASX: CSL) and Amazon.com Inc (NASDAQ: AMZN).
But all giants of the industry were once startups, and buying in early can lock in decades of smiles for investors.
So what are some of the fresh ASX shares that have the potential to make you leap for joy in 10 years' time?
Here are a couple of suggestions:
Australia conquered, now the world
PEXA Group Ltd (ASX: PXA), which listed on the ASX in July 2021, commands pretty much a monopoly in digital conveyancing in Australia.
So its growth opportunity comes from its overseas expansion plans.
The analysts at Firetrail Small Companies Fund team recognised Pexa's potential late last year.
"The Bank of England expects to revolutionise the UK property market by partnering with PEXA to implement its settlement technology," read their report.
"The UK presents an estimated $700 million addressable market opportunity."
A few weeks ago, Wilsons equities strategist Rob Crookston named Pexa as a growth stock he would buy anticipating a future takeover.
"Identifying companies that will make suitable takeover targets can make for very lucrative investments," he said.
"Normally, companies are acquired at a significant premium to their latest share price, and any hint of a possible acquisition can trigger positive momentum even before a bid is announced."
The Pexa share price has dipped more than 21% over the past 12 months, although it has headed 15.8% up since the start of the year.
'Substantial margin uplift'
Challenger telco Aussie Broadband Ltd (ASX: ABB) might operate in a super-competitive industry crowded with giants, but multiple experts reckon it's a buy.
One of those, Discovery Fund portfolio manager Mark Devcich, told The Motley Fool last month that there are "some pretty favourable dynamics in the NBN space right now".
"You may have seen that the NBN wrote down the value of the network by $31 billion recently, and that was driven by changes to the prices they charge the retail service providers," he said.
"And what that's going to mean is once these changes come through in 1 July… there should be substantial margin uplift."
Aussie Broadband, which floated on the ASX in October 2020, has seen its share price halve since a year ago.
For the analysts at QVG Capital, the potential of Aussie Broadband's activities aside from NBN retailing is the big lure.
"The thing that attracts us to Aussie is that they have been investing in their own fibre backhaul and have been growing their business and government division," read the memo.
"As Aussie's revenue and earnings mix moves more towards the higher quality business and government division, we believe a re-rating of the company is likely."