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Best Stocks to Invest for Long Term in 2024

Long term investing, also known as ‘buy and hold investing’ is one of the easiest ways to generate wealth.

All you have to do is buy the stock of a solid company at a discount and then hold for years to come.

But this isn’t as easy as it sounds. Which stocks can you really hold for a long time?

Only 0.5% of listed stocks today are credible enough to be the big winners of the next few decades.

Even with all the hi-tech tools, screeners, and spread sheets at your disposal, you can go horribly wrong in picking the next HDFC Bank or Titan.

Moreover, in the event of a March 2020 like stock market crash, all your gains in questionable stocks, could get wiped out.

If you’re looking for companies that could generate long term wealth, Tanushree Banerjee, has prepared a blueprint to select the top 1% listed stocks that can help create a fortune in coming decades.

She calls them Forever Stocks.

These are the stocks you can buy and hold for years and decades. These stocks will make the power of compounding work in your favour.

You can sign up for Forever Stocks here.

And if you’re looking for tips on long term stocks, we suggest reading this Equitymaster editorial - 10 Rules for Successful Long-Term Investing.

You can also checkout our playlist on Long Term Investing on Equitymaster's YouTube channel.


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How long should we hold stocks?

The strategy behind long term investing is to hold on to stocks for a period of more than three years, or possibly more than five years.

Three years or five years sounds like a long period when one dives into the stock market. That's because most investors are looking to make a killing in the short term.

But that's the difference between a trader and an investor.

There are retail investors who choose to invest in fundamentally strong stocks and remain invested for the long haul. This can even mean a period of 3, 5, 10 or more years.

Which are the best long-term stocks?

The best long-term stocks are those that compound wealth that could last you for generations.

For this, you need to buy great companies at a reasonable price and hold on to them 'forever'.

Asian Paints is a classic example that embodies the true spirit of a 'Forever Stock'. Had anyone invested Rs 500 in the company when it went public in 1982, the value of the holding would be as much as Rs 10 m today.

To know about more such companies, check out our recommendation service - Forever Stocks.

How to find penny stocks for the long term?

If you're looking for penny stocks to buy for the long term, apply the following fundamental filters:

  1. Last 10-years sales and profit growth greater that 10%
  2. Cash on the books greater than total debt
  3. Current ratio greater than 1. Ideally greater than 2
  4. Return on Equity greater than 12%

This framework is one of the easiest ways to filter penny stocks for the long term.

You should use the Equitymaster Indian Stock Screener to filter such stocks...