Most of us have heard the old investing phrase "buy and hold." It describes an effective investing style: Buying shares of high-quality companies and hanging on for a very long time, as the companies execute smart strategies and keep growing.
It's worth noting, though, that "buy and hold" shouldn't mean holding blindly. More accurately, we should buy to hold. We should be aiming to hang on for many years, if not decades, but we should also keep an eye on our holdings, in case their circumstances or future prospects deteriorate.
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Source Fool.com