When I buy a stock, I try to remind myself that I am buying a small part of a business and that I intend to hold my stocks for the long term. Warren Buffett famously said that his favorite holding period is forever. While that’s aspirational more than anything, it’s an important reminder that success in investing comes from identifying great businesses and then letting them compound over decades.
While some stocks in my portfolio have a lot more to prove to stay there forever, there are some that I can’t imagine myself selling. These businesses have long track records and competitive advantages that should pave the way for bright futures. As the saying goes, “Never say never.” Yet with these stocks, I’m as close to never selling as one can be.
Costco
Every time I am struggling to find parking or waiting in the long (but efficient) line to check out, I ask myself why I don’t own more…
