While I don't believe in 3) hold forever, the rest of the 3 are good advices. Just wanted to highlight on quality businesses on sales. While there are many hot businesses that claimed to 5-10x in near future, do note these companies are also carry much risks. There are those businesses that prove to others by becoming the king in their industry and make great profits, but there are also many that eventually don't make the cut and bankrupt/delist . The number of failures outnumbered the success cases by many times. It's just that we only remember the winners and forget about the losers. So the odds is not as high to pick a winner among so many. That's why it's safer to buy proven winners (strong profitable quality businesses) right from the start. While the chance of 5-10x will be low, but the chance of holding a loser is much lower. This advice especially shines in a bear market where we try to bottom pick a stock. The number of losers that will never recover are just too many. Remember, buy quality, not hype.