Why do you believe in investing for the long term?

“It’s important to take a long-term approach to investing and to be disciplined enough to maintain a consistent investment program. We are bombarded with calls from brokers and others suggesting companies in which we should invest. But a lot of times they’re looking at something that perhaps will do well in the next 6-12 months, but many not really have long-term staying power. We are looking for companies that can grow and do well for the next 3, 5, 10 years and beyond, companies with a competitive advantage that is sustainable over time.”  Kempton Ingersol, Managing Director and Senior Portfolio Manager