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The Equitymaster Research Digest

The Man Who Takes 'Buy and Hold' to a New Level
Aug 24, 2016

  • An eighteen-year holding period
  • When a business turns sour
  • The trend that could de-rail the India growth story

On an average, how long do you hold your stock? One year? Three years? Five years?

Nick Train, one of the UK's most successful fund managers, holds his shares for...wait for long as eighteen years. Yes, that's right. No typos here. Nick just hates selling his stocks.

If Warren Buffett is the undisputed king of buy and hold investing, then this guy certainly is his biggest apprentice.

But isn't capitalism all about creative destruction? Do businesses even last that long?

Some certainly do as per Nick, and it is only they that interest him.

Timeless Advice

Nick uses a couple more filters to zero-in on stocks - what he calls his two favourite pieces of investment advice:

  1. Never invest in a company that makes anything out of metal.
  2. If you find a company whose products taste good, buy their shares.
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