One of the most difficult things in investing is holding an investment for the long term. Buying is arguably quite easy, but holding tenaciously requires a whole different skill set.

This is likely due to several reasons. First, only a high-quality company's shares could and should be held for the long term. So this largely eliminates companies with a highly uncertain long-term future. Second, holding a stock for the long term requires a surprising amount of effort.

Indeed, holding a stock requires a new decision every day -- the decision not to sell. This daily decision is made even as negative economic, industry, and company-specific headlines arise from time to time.

Continue reading

Source Fool.com