If you’ve been waiting for the perfect time to buy certain stocks, only to watch them soar higher while you stayed on the sidelines, you’re not alone. The market rarely offers the ideal dip investors hope for. Instead of waiting, consider adding a few reliable “set-and-forget” stocks to your portfolio — companies that quietly compound your wealth while you focus on other aspects of life.
Also Read: Best long term Canadian stocks
Constellation Software
Constellation Software (TSX:CSU) has long been a wealth creator for patient investors, and its recent pullback presents a compelling entry point. Shares are down roughly 31% from their 52-week high of $5,300, largely due to the unexpected resignation of founder and president Mark Leonard. The market’s reaction may have been exaggerated, especially since Leonard’s successor, Mark Miller, has been with the company for three decades, most recently as chief operating officer. Miller has already assured investors that it’s “business as usual,” meaning the firm will continue acquiring niche software companies with strong recurring revenues. Over the long run, this proven acquisition strategy should continue to boost Constellation’s enterprise value and stock price.
Also Read: Long term investing in Canada
Telus Corporation
Telus (TSX:T) is another stock you can buy and forget. The telecom giant consistently upgrades its infrastructure, grows its subscriber base, and delivers rising dividends. Having increased its dividend for 21 consecutive years, Telus also offers a dividend reinvestment plan (DRIP), allowing shareholders to automatically purchase additional shares with their payouts. This compounding effect can generate substantial passive income over time. With capital spending declining and its payout ratio comfortably within targets, Telus plans to raise its dividend by 3–8% annually between 2026 and 2028, further enhancing its long-term appeal.
Advanced Micro Devices (AMD)
Advanced Micro Devices (NASDAQ:AMD) is a key beneficiary of the AI revolution. As a major competitor to Nvidia, AMD is expanding its AI-driven product lineup across PCs, data centers, and embedded systems. Despite its strong growth prospects, AMD’s valuation remains attractive at 28.6 times forward earnings — lower than Nvidia’s and Broadcom’s multiples. With its expanding AI infrastructure offerings, AMD is well-positioned to capitalize on the ongoing AI boom, making it a solid long-term growth play.
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