Vanguard Group founder John Bogle once said, "The stock market is a giant distraction to the business of investing." In other words, when you're investing in stocks for three to five years, if not considerably longer, then volatile periods such as the one investors are contending with right now would be a blip on the radar.

It's important to be selective about the companies you invest in, research them well, and only put your capital to work in businesses with growth stories you believe in and that align with your overarching goals. If you're looking for stocks with superior growth runways still ahead of them, here are two names to consider for your buy basket. 

1. Teladoc Health

Teladoc Health (TDOC -2.36%) isn't garnering the same attention from investors that it did a few years ago, but for forward-thinking investors with a multiyear buy-and-hold horizon, this could present a compelling buying opportunity given the continued potential of this business in the explosive industry in which it operates. The global telehealth market hit a valuation of $84 billion in 2022. Around 3% of the revenue generated in this space last year was attributable to Teladoc. The company saw revenue soar 18% in 2022 compared to 2021, totaling $2.4 billion for the 12-month period.  

This gives Teladoc plenty of room to run as it operates in the fragmented space, in which it remains one of the foremost players by nature of its revenue generation. And, the continued pace of telehealth adoption on a global scale means that this market is on track to accelerate to a valuation roughly 5 times its current valuation by 2030. There are a wide variety of catalysts driving the continued adoption of quality virtual care services, including an aging population, the affordability and ease of accessibility of these tools, and even the growing incidence of certain diseases such as chronic conditions and cancers.  

Chronic disease management is a multibillion-dollar business in its own right, and one that Teladoc is increasingly targeting with a wide variety of virtual care services. In 2022 alone, its chronic disease business saw enrollment jump 16% year over year.

The 12-month period also saw Teladoc rake in cash flow from operations to the tune of $190 million. Meanwhile, it generated free cash flow of about $17 million in the 12-month period, while closing out the year with about $920 million in cash on its balance sheet. Moreover, this is a business that has seen its annual revenue jump 476% over the last five years and 12,000% over the trailing-10-year period.  

Finally, consider that while Teladoc was not profitable in 2022 (it recorded a net loss of about $14 billion for the year), almost all of that net loss was a paper one, derived from a series of three non-cash impairment charges related to its 2020 Livongo acquisition. While it overpaid for Livongo, it helped to drive the consistent revenue generation and member growth the company is witnessing. At the end of 2022, more than 80 million people in the U.S. had access to Teladoc's platform.

This isn't the story of a business in its waning days, but one that has a long runway of growth still to explore. Investors who stay along for the ride may find that their patience is rewarded. 

2. Lululemon Athletica

Lululemon Athletica (LULU -1.72%) is one of the few retail stocks I find particularly compelling in any market environment, even one that many fear could be on the brink of a recession. There are several reasons. First, the multibillion-dollar athleisure market, in which Lululemon remains a key figure, is growing steadily. The versatility of athleisure apparel lends itself to a wide range of use cases, meaning consumers are more likely to put their dollars to work on these products even in an environment where spending and savings are more constrained. 

And Lululemon has a storied track record of profitability and revenue growth, as well as a booming online presence to support its brick-and-mortar operations. The athleisure industry is on pace to reach a valuation of $663 billion by 2030. Given Lululemon's continued expansion in this space (its current market share sits right around 2.5% globally and 10% in the U.S. alone), the business looks to be in an excellent position to capitalize on this robust growth trajectory.

In 2022, Lululemon delivered superior growth on a number of fronts. The company raked in total net revenue in the amount of $8 billion for the 12-month period, representing growth of 30% compared to 2021. Total comparable sales for the year rose 25%, while e-commerce revenue jumped 33% from the prior 12-month period. And while net income was down slightly from 2021 -- largely attributable to a non-cash impairment to write down the value of its prior Mirror acquisition -- this figure still totaled $855 million for the 12-month period.  

Lululemon ended the year with 655 stores open globally, an increase of 81 locations from its store count as of the close of 2021. Bear in mind, this follows the prior five-year period in which the company has seen its annual revenue and annual earnings rise by respective amounts of 90% and 102%. For investors looking to invest in a promising growth story that continues to deliver profits and expand market share, Lululemon looks like a compelling place to park cash as you build a well-diversified investment portfolio.