How long a term is is in the eye of the beholder fefifofum. I think medium term is 2 or 3 years. I would describe myself as medium term, I will sell at any time if I think circumstance warrant it. A lomg term investor who is not interested in dividend income is aiming for long term capital gain from a rising share price or takeover. Or ultimately dividends. I remember reading if someone bought $10,000 of Fortesque shares in 1991, at there height in 2008 the investment would be worth $73,000,000. I may have some detail missing, share placements etc but that is what you call a long term investment. You some times hear the expression one for the bottom draw. They are stocks with potential but its indeterminable when they will bear fruit. There are successful people in every investor style. A long termer needs patience and vision. Market volatility doesnt concern these people to much, they have an eye on the outcome. How speculative it is depends on the nature of the stock. For example is it an explorer or sitting on a valuable resource. Some long term investments are contrarian, some anticipate trends or developments. How successful a long term investment is depends on the skill of the investor and luck.
