You want to build your long-term investment portfolio. Holding on to a successful stock for 20 years or more could be the key to making serious money. Master investors like Warren Buffett and Peter Lynch built their fortunes through the magic of compound returns over many years -- and you can follow their example.

But don't just go buying any old stock, dear investor. You should look for certain key factors in a company to ensure you're making a wise choice.

First and foremost, you want to find companies with a strong competitive advantage. It could be their killer brand, some innovative technology, or even operating in a market that's tough to break into. Next, you want to see the company operating in a large and growing market with plenty of room for expansion. The bigger, the better! Also, strong financials are an absolute must-have. I'm talking about solid balance sheets, healthy revenue growth, a manageable debt load, and reliable cash profits.

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Source Fool.com