3 Stocks to Buy and Hold for Decades

Investing for the long term is the only kind of investing that makes sense. By harnessing the power of compounding, your investments can grow by multiples of what you originally put in. That said, it's important to choose the right companies that can grow steadily over years, if not decades.

Businesses that have a strong, recognizable brand; a sturdy, competitive moat; and a good track record of growth qualify as the right companies to buy and hold. Not only do you enjoy capital gains as the share price rises in tandem with earnings, but you also benefit from ever-increasing dividends over the years as the company increases its payout along with its profits.

Here are three stocks with the above attributes that I'll be happy to buy and hold for decades.

Source Fool.com