Over time, the U.S. market proved to be a powerful and cost-effective tool for building wealth for long-term investors. For example, the S 500 delivered a long-term average annual return of about 10% before inflation.

However, to fully leverage the compounding effect in the stock market, it makes sense for investors to avoid the hype and instead invest in companies with robust fundamentals and a solid vision. Investors should also be aware that corrections are a normal part of the investing cycle, and can help them pick up high-quality stocks at significant discounts.

Against this backdrop, here's why Snowflake (NYSE: SNOW) and Twilio (NYSE: TWLO) -- growth stocks that are trading at 51% and 81% discounts to their all-time highs -- are smart picks now.

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Source Fool.com