Warren Buffett's wisdom is often shared in short quips that straddle the line between jokes and deep investment insight. For example, the Oracle of Omaha has noted that his preferred holding period is "forever." That said, even he admits that things change and that no investment gets a free pass for, well, ever. But the wisdom he's sharing is that you should go into an investment with a forever mindset, and that's how I look at Eaton Corporation (NYSE: ETN) and Nucor Corporation (NYSE: NUE). Here's why...
Eaton is a large and diversified industrial company. Its main businesses include electrical products (roughly 35% of third quarter 2017 sales), electrical systems and services (27%), hydraulics (12%), aerospace (8%), and vehicles (16%). Although this may seem like an odd combination, the overarching theme is power management. Each division is focused on helping customers make the most efficient use of energy. Importantly, its business spans the globe, allowing it to take advantage of growth beyond the shores of the United States.
Eaton and Nucor are two stocks that underpin my nest egg. Image source: Getty Images
Source: Fool.com