I believe, almost all these points are important for Buy and Hold for long term candidates.
Management quality is the most important factor even in Secular industry like IT, so that cases like Satyam can be avoided.
In Banks, Yes Bank can be avoided only if you can doubt their Net NPA(s) which they were reporting consistently below 0.5, which eventually turned out to be incorrect.
Also, entering at Low valuations allows you to hold the stock for longer periods.
TCS was available at PE of below 18 during 2008 to 2012. That was an opportunity to buy and hold for a decade. There will be many more such examples.
Choosing business having long structural run way is also important, which could be Energy Exchanges, CDSL/NSDL, Asset Management companies, Banks with low NPA(s), Healthcare companies, Insurance companies, IT companies so on and so forth.
Choosing market leaders while opportunity size is huge – Could be difficult to find but with some efforts, we can find such stocks as well.
Also, most of these candidates will have Low Beta compared to Index, indicating that, Market respects these companies and hence those are much less volatile. Banks would be an exception as those will mostly have Beta close to Index Beta of 1. This is just based on my initial analysis of these Buy and Hold candidates mentioned in this thread so far.
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