No matter how long you've been investing, you're probably familiar with the old adage of "buying low and selling high." But it's not that simple. And in fact, this advice can often lead to leaving money on the table.

Outsized gains typically come over a multi-year time frame by letting winning positions compound. The best companies have a habit of improving their fundamentals so that they eventually catch up with a premium valuation. This has been the case with a company like , which has compounded its earnings (and bought back its stock) so effectively that it's been able to justify a sustained valuation expansion.

Nvidia (NASDAQ: NVDA), Taiwan Semiconductor Manufacturing (NYSE: TSM), and General Electric (NYSE: GE) are three well-known stocks that are red-hot but could be still worth buying now. Here's why. 

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Source Fool.com