Best Long-Term Stocks of 2023

livemint.com:

For some investors, the time frame for holding stocks might be days, or weeks, or months. But smart investors generally look toward the long term, and for them it’s often decades. Berkshire Hathaway legend Warren Buffett once told his shareholders his favorite holding period was “forever." While that may not work out in every case—especially for the rest of us investors who are not as talented as Buffett—we certainly appreciate the sentiment.

Investors should ideally be focused on stocks they can buy and forget about: That means businesses with such strong long-term prospects, that you don’t have to worry about short-term concerns like the nation’s latest economic figures or next week’s earnings report. That in mind, we asked a few top portfolio managers for their one pick that investors can buy, hold, and feel secure about for many years to come. (One even has a name for this philosophy: The ‘Robinson Crusoe’ approach).

Here’s what they had to say. Diageo If the last few years have made you reach for a stiff drink, it is certainly understandable—and very likely that you have consumed a Diageo product. That’s because the London-based spirits company has a massive portfolio of brands you probably recognize, from Tanqueray gin to Guinness beer to Johnnie Walker Scotch whisky and hundreds more.

But after a pandemic-related boom, when we all drowned our sorrows in isolation, Diageo’s share price has come back to Earth—which means a more attractive entry point for value-minded investors. “We think investors are being overly cautious in the near term, and are overlooking [what] is a very attractive business and category over the long term," says Schwab’s McMahon. The unmatched geographical reach (sales in more than 180