Wall Street likes to focus on one-year price targets. I don't have much use for that. In part, that's just because I'm lazy. When I invest in a company, I like to get to know it, and I sink a good amount of time reading SEC filings, examining the financials, and figuring out what makes the business tick. I don't relish the idea of starting this process from scratch at the beginning of every year.
We'll want to find companies that will still be going strong even after 30 years. So while valuations aren't meaningless, getting a rock-bottom price shouldn't be our No. 1 concern. To begin winnowing down the massive field of available stocks, I looked for stocks that pay a dividend of at least 1%, and have a trailing price-to-earnings ratio of less than 20. From there, I simply looked for businesses that I could easily see still kicking butt in 2041.
Source: Motley Fool
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