Investing in the stock market doesn't require you to have a highly technical or intricate approach. In fact, it's wise to keep your portfolio strategy simple and focused.

Executing this simple strategy means keeping these ideas in mind:

  • Invest in a variety of companies that you know well.
  • The companies you focus on should have strong underlying businesses and compelling leadership.
  • You should be comfortable holding these investments for at least three to five years.
  • Continue to invest in both up and down markets.
  • Add to your winning stocks over time and trim the losers (yes, every investor, no matter how great, will have some "losing" stock picks).
  • Invest according to your personal risk tolerance level and rebalance from time to time to ensure your investments still align with that risk threshold. 

Now, that you have the strategy, you just need some stocks to evaluate. The current bear market environment means there's a bigger-than-average, wider range of discounted stocks to sort through. Let's look at two supercharged stocks with durable businesses that continue to generate growth in a worrisome economic environment. These two stocks have what it takes to multiply your initial investment in the years ahead. 

1. Airbnb

Airbnb (ABNB -0.96%) operates a two-sided platform with unique value propositions for both travelers and entrepreneurs.

For travelers, the ability to pick a place that aligns with their exact needs from an endless array of choices, whether that be a long-term stay in a fully furnished apartment or a stay of just a few nights in a boutique hotel, is particularly attractive. People are increasingly picky about how and where they spend their cash, and the industry is evolving rapidly as an entirely new generation of travelers capitalizes on the easy blend of business (i.e. remote workers) and leisure travel options available.

Airbnb's platform is an ideal fit for the full spectrum of these needs. Although an economic downturn could slow the pace of spending on more discretionary-focused expenditures like travel, the fact that Airbnb is deriving more growth from a variety of travel types bodes well for its resilience and growth potential. 

For entrepreneurs, Airbnb provides a platform to generate income, both passive and active. Management also noted that in an uncertain economic environment, more people are turning to hosting to earn extra cash. The ability to supplement or replace an income by running one or more Airbnbs is compelling for hosts both in and outside of a potential recessionary environment. In the first six months of 2022 alone, hosts earned more than $21 billion on the platform.  

A 25% year-over-year increase in Nights and Experiences booked on the platform in the third quarter of 2022 saw Airbnb report gross booking value of $16 billion, revenue of $3 billion, and net income of $1.2 billion in the three-month period. These three metrics represented year-over-year increases on a constant currency basis of 40%, 36%, and 61%, but were up by respective amounts of approximately 63%, 70%, and 270% compared to pre-pandemic levels in Q3 2019. Airbnb caters to the rapidly evolving needs of the modern traveler, be they leisure traveler, digital nomad, or anywhere in between. For the business and its shareholders, this profitable business appears to have plenty of room left to run in the coming years.  

2. Figs 

When Figs (FIGS -3.56%) was launched a decade ago, its founders aimed to disrupt the healthcare apparel industry with form-flattering, yet comfortable and stylish, products. In a subsector of the apparel industry where quality and cut were last on the list, the idea and business model stuck. The company sells everything from stylish scrubs to medical jackets and masks. Figs quickly developed into a fast-growing and highly profitable business, and it boasts a market capitalization that currently hovers around $1.5 billion. 

Since its initial public offering in 2021, share prices have cratered by around 70%. This is largely due to broad market sentiment that has turned against newly public and growth-oriented businesses, and concerns about the company's ability to expand in a post-pandemic landscape. The effect of inflation meant that healthcare professionals are spending less on scrubs than in times past, and supply chain disruptions affected Figs' bottom line recently as well. Shares are up around 20% in the past month, and some Wall Street analysts think the stock could present a 12-month upside from 8% at the mid-range up to 30% on the high end.  

Regardless of what happens in the next few months, the long-term potential of this business and the durable foundation it's built could make the stock an intriguing choice for investors. In Q3 2022, Figs reported revenue of $129 million, up 25% year over year. It also generated net income of $4 million in Q3. Active customers now total 2.2 million, up 23.6% from the prior year. For the full year, Figs management projects revenue of $495 million, up 18% from the prior year. Figs has a market share of around 10% in North America alone, while the global healthcare apparel market is on track to reach a total valuation of $141 billion by the year 2028.  

Headwinds like inflation and supply chain disruptions are relatively near-term factors to consider. And a company like this, in its relatively early growth stages, is not without risk. However, the need for quality scrubs is a durable need that directly targets one of the more non-cyclical industries out there -- healthcare. If Figs can continue to expand its market share and remain profitable, this could be a winning stock to add even a small position in at first and keep in a well-diversified basket of investments over the long haul.