Is Buy and Forget a Myth?

Peter Lynch : Buy, Hold and Monitor
Phil Fischer: Buy and Forget HQ Companies (not entirely)
Fisher was interested in high-quality companies with strong competitive advantages and growth potential.
He looked for management teams with a long-term vision and a commitment to shareholder value.

“Conversely, as such a stock rises to, say, 50 or 60 or 70, the urge to sell and take a profit now that the stock is “high” becomes irresistible to many people. Giving in to this urge can be very costly. This is because the genuinely worthwhile profits in stock investing have come from holding the surprisingly large number of stocks that have gone up many times from their original cost. The only true test of whether a stock is “cheap” or “high” is not its current price in relation to some former price, no matter how accustomed we may have become to that former price, but whether the company’s fundamentals are significantly more or less favorable than the current financial-community appraisal of that stock.”