Long-term compounding can make you wealthy. There is a caveat, however. Your money can only grow effectively if it is invested in the right companies that can enjoy many years, or even decades, of consistent growth. That's why it's important you select the right companies to park your money in and avoid the poorly managed ones.

So what types of attributes should you watch out for in these long-term compounders? First off, the company should provide a service that sees growing, long-term demand. Next, the business should occupy a dominant position in that industry to help it draw more customers. Finally, the company itself needs to demonstrate steady growth and a record of investing in its own future to keep ahead of its competitors.

Here are three stocks with these attributes that could multiply your money many times over in the coming years.

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Source Fool.com