Historically, it doesn't matter which political party is in the Oval Office: If investors buy great companies and hang on over the long run, they tend to do well.

However, it's hard to overlook the perfect storm of catalysts that await the Biden administration.

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Though Joe Biden is inheriting one of the worst economic situations in decades, he's aggressively pushing for a $1.9 trillion federal stimulus package to buoy struggling workers and businesses. This comes atop the more than $3 trillion in federal coronavirus aid that was passed in 2020.

Furthermore, the Federal Reserve is doing everything in its power to reignite the U.S. economic growth engine. The nation's central bank is expected to leave interest rates at or near historic lows through 2023, and will continue its monthly quantitative easing measures (i.e., Treasury bond-buying activity) for the foreseeable future.

This all points to a strong bull market taking shape with Joe Biden in the White House. So what should investors buy to take advantage of it?

With lending rates near historic lows, access to capital is cheaper than it's ever been. This should open the door for hypergrowth stocks -- growth stocks with exceptionally high sales growth potential -- to shine. If you're looking to buy into fast-paced, innovative businesses, the following four would be perfect for a Biden bull market.

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Etsy

The coronavirus disease 2019 (COVID-19) pandemic has completely changed the way consumers and businesses shop for goods, and that's made online sales platform Etsy (ETSY 3.39%) an absolute star. Even though it's benefited handsomely from face mask sales during the pandemic, this company is going to thrive long after the crisis is behind us.

Etsy is a special company because of the personalization of the buying process. Etsy specifically focuses on connecting small businesses with motivated shoppers. Roughly half of the company's lifetime buyers have purchased something on the platform over the past 12 months, and in the third quarter, the company noted that existing customers upped their purchasing (as measured by gross merchandise sales) by more than 50%. This is the secret to Etsy's growing profitability: getting repeat customers to spend more. 

Etsy has also been aggressively reinvesting in its platform to make it faster and easier for shoppers to use, as well as more cost-efficient for the company itself. This innovation has involved the rollout of listing videos, as well as improved analytics tools (e.g., performance graphics) for merchants.

Investors should look for Etsy to more than triple its annual sales between 2019 and 2023 to $2.8 billion.

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Green Thumb Industries

Marijuana is beginning to look like one of the most promising growth stories of the decade. A Democrat-led Congress offers a real chance at meaningful federal cannabis reforms in the months and years to come. But even if the status quo remains in place, U.S. multistate operator Green Thumb Industries (GTBIF -0.76%) will be growing like a weed.

To date, 36 U.S. states have legalized medical cannabis in some capacity, with more than a dozen of these states also allowing for recreational consumption or retail sale. Green Thumb has 52 operating locations, but holds 96 licenses in a dozen of these 36 states. Most of the states it's chosen to focus on have billion-dollar annual pot sales potential by mid-decade.

Perhaps the top catalyst for Green Thumb Industries is how it generates revenue. Approximately two-thirds of all sales come from derivative pot products, such as edibles, vapes, beverages, concentrates, topicals, and oils. Derivatives are higher-priced, juicier-margin products relative to dried cannabis flower, and can also be easily commoditized. Leaning toward derivatives has helped Green Thumb connect with the younger and more casual cannabis user, and it's going to push the company to recurring profitability more quickly than most of its peers.

Look for Green Thumb's sales to skyrocket from $216 million in 2019 to beyond $1.3 billion by 2023.

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Image source: Pinterest.

Pinterest

A lot of folks have probably taken note of how well social media platform Pinterest (PINS 2.92%) has adapted to the pandemic. Last year, it gained 124 million new monthly active users (MAU), equating to an increase of 37%. But what you might have overlooked is that Pinterest has been growing its MAUs by an average of 30% annually since 2017. This company wasn't slacking prior to COVID-19, and it's even more compelling now.

Interestingly, it's not the 98 million MAUs Pinterest has in the United States that are going to be responsible for driving long-term growth. Despite offering substantially higher average revenue per user (ARPU) in the U.S., it's international users that offer Pinterest the most robust growth prospects. After more than doubling ex-U.S. ARPU in 2019, Pinterest's international ARPU jumped 62% in 2020 (i.e., during the worst economic downturn in decades). 

Pinterest is also just scratching the surface in its role as an e-commerce player. With its users willingly posting about the things, places, people, and services that interest them, it's only logical for Pinterest to introduce these motivated users to small businesses that cater to their desires. By using video to keep users engaged and partnering with Shopify to give merchants the best chance to succeed, Pinterest could soon enough become a go-to e-commerce destination.

Growth stock investors should expect Pinterest's sales to triple between 2020 and 2024 to $5.1 billion.

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Teladoc Health

Healthcare innovation is occurring at a rapid clip, which bodes well for companies focused on precision medicine in the years to come. Should a Biden bull market take shape, burgeoning telehealth giant Teladoc Health (TDOC -3.26%) stands to be one of the fastest-growing companies.

If you're noticing a bit of a theme here, it's that Teladoc benefited from the COVID-19 pandemic, too. And, like the other transformative businesses on this list, it was growing exceptionally fast well before COVID-19 struck (75% average annual sales growth between 2013 and 2019).

One of the top selling points for Teladoc is that telemedicine is a winning solution for the entire healthcare sector. It's more convenient for many patients, and it allows physicians or specialists to fit more consultations into their busy schedules. Further, since virtual visits are billed at a lower rate than office visits, they're going to get two thumbs up from health-benefit providers.

Teladoc's acquisition of applied health signals company Livongo Health, completed in early November, should take growth to the next level. Livongo focuses on improving the quality of life for diabetics at the moment, but it will soon offer its services to people with hypertension and weight management issues.

Teladoc should be able to more than triple its top line from close to $1.1 billion to roughly $3.5 billion between 2020 and 2023.