Tech Sell-Off: 2 Growth Stocks to Buy For the Long Haul

What are the qualities of a business that is likely to outperform the market over the long run -- say, 10 years or more? Here are two of the most important, in my view. First, said business needs to have a solid competitive advantage. Second, it needs to be riding the wave of an industry that is still in growth mode. These are not sufficient conditions, though.

For instance, a corporation's management team is also critical to its long-term success. Still, finding businesses with the two criteria mentioned above is a good start. And buying such companies for a discount is even better. Let's look at two excellent stocks, both of which have been hammered in the recent sell-off, that fit the bill: Airbnb (NASDAQ: ABNB) and Etsy (NASDAQ: ETSY).