The stock market can be very unpredictable year to year, but the most surefire predictor of long-term returns is whether you own shares of companies that are reporting growing revenue. If you hold a collection of magnificent companies that grow over many years, you're effectively guaranteed to grow the value of your investments.

Now might be a great time to consider buying shares of Chinese tech giant (NYSE: BABA) and top retailer Ulta Beauty (NASDAQ: ULTA). These stocks are down from their highs, but trade at discounted valuations. These could be timely picks for a long-term growth investor.

Alibaba is the largest e-commerce company in China. The stock got knocked down over the last few years thanks to a sluggish economy, but the shares are now selling at a cheap valuation that hardly prices in any future growth, which seems very unrealistic for the tech giant.

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Source Fool.com