Investors can often make the process more complicated than it needs to be. Trying to time the market and seeking out unproven, unprofitable stocks are just two of the many needless risks you can take to try to bolster your portfolio's returns.

There is an easier path that relies on owning successful businesses over at least several years. Focus on companies that have clear competitive advantages like customer loyalty and pricing power, and you're likely to see excellent returns over long periods.

Three such companies -- Lululemon Athletica (NASDAQ: LULU), Costco Wholesale (NASDAQ: COST), and Tractor Supply (NASDAQ: TSCO) -- look like strong buys right now. Let's look at a few reasons why.

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Source Fool.com