The Playbook: Lessons from 200+ Company Stories
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Let Your Winners Ride: The Importance of Long-Term Growth Potential
The key insight is to hold onto winners for the long term, as demonstrated by the example of Amazon's stock. Despite the fluctuations and crashes in the dot-com bubble, holding onto the IPO shares for 13 years resulted in a 10x return. However, continuing to hold for another 10 years would have led to a 170x return. The crucial factor is not the yearly growth rate, but the number of years of growth potential left. The example of Amazon and Apple illustrates that holding onto stocks with decades of growth potential is what matters most.
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