The stocks to hang on to for long-term investing

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Buy the firms well protected from competition

When it comes to portfolio turnover, less is more. For most of us, frequent trading simply drives up costs and lowers returns, as a famous 2000 study by Brad Barber and Terrance Odean of the University of California demonstrated. So how can you build the perfect “buy-and-hold” portfolio? One option is to invest in only big blue-chip stocks, or a tracker fund. But what if you hope to [...]