I read widely and often find investment wisdom in unexpected places. One of the most important things I've ever found was in a management book written by Arie de Geus called The Living Company. It is why, when selecting stocks for my portfolio, I have a decided preference for companies that have been around for a very long time -- often over 100 years.

Here's why...and why you might want to add this simple filter to your screening process, too.

Arie de Geus worked for Shell in what's best described as an internal think tank. His group looked at the world and created future scenarios in which the company might need to operate -- heady stuff, given the inherent uncertainty of the future. But Shell's management also tasked this group with a unique project: figuring out what separated companies that had existed for hundreds of years from those that didn't manage to last that long. This is the subject of The Living Company, a management book intended to help create companies that can stand the test of time.

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Source Fool.com