The boring investment strategy that helped my grandfather retire a millionaire - Business Insider

If you held onto Walmart as long as my grandpa did, you probably made a lot of money. That stock grew to become a huge portion of his portfolio, but he didn't sell his biggest winner and rebalance. He kept on holding and the stock price kept going up.

I've had similar results with an investment in Walmart's biggest competitor: Amazon. While I don't own nearly as much as my grandpa did of Walmart, I followed a similar strategy of spotting an. I bought Amazon at $258 per share and my few shares are up 1,252%. It's my biggest winner and biggest overall holding, but I'm not going to sell it anytime soon.

Picking good companies and sticking with them can pay off very well in the long run. He didn't follow some get-rich-quick scheme. He picked solid companies and held on as they grew in value over time.I don't have a crystal ball that told me Amazon was going to do so well. While most of my stocks are up and I have significant overall gains, some stocks in my portfolio have not fared as well.

But again, I'm not focused on short-term gains or losses. I'm focused on my results more than a decade from now. So I'm not going to sell those oil stocks. I'm just going to keep adding more to give my portfolio more diversification and opportunities for growth. The main financial factors I look at when choosing stocks are the company's revenue and profit growth rate, book value, dividend growth rate, and a healthy balance sheet. I also look at subjective factors, like competitive advantages , how important the industry is in the economy, and if the company is being innovative or creating something new of value.If all this talk of stock picking has you thinking this strategy isn't right for you, you don't have to follow it exactly.

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