This is why finding a stock to hold forever is usually an exercise in futility…

Old school computer

The abacus… how computing used to get done…

Equity indices like the DJIA rise over time because the powers that be change the components as needed (just look at how the Dow has changed over the years).  As a general rule, individual stocks come and go… just ask DEC…

 

The PDP-8 [computer] was made by Digital Equipment Corporation in 1965.

It cost $18,000.

It was much less powerful and vastly harder to use than a cheap smartphone is today.

The PDP-8 and similar machines made Digital Equipment Corporation the leader in the mini-computer revolution. Mini-computers provided a vast price-performance-and-usage improvement over mainframes, so they quickly took over the corporate computing world. Digital Equipment Corporation, meanwhile, became one of the world’s most dominant technology companies.

For two decades, the company’s stock soared. Nothing would ever stop Digital Equipment Corporation.

When the personal computer appeared, DEC’s founder famously ridiculed it.

No one, Ken Olsen said, would ever want a computer in their home.

Click here for the rest of Henry Blodget’s  article…