What is the average holding period?

The average holding period is around 2.2 years

The minimum time period a stock can be held is 1 month.
The maximum time period a stock can be held is 4 years. (Although it is rare for a stock to be held this long it does happen.)

Our approach is well described by Benjamin Graham in this quote:

The disciplined, rational investor neither follows popular choice nor plays market swings; rather he searches for stocks selling a price below their intrinsic value and waits for the market to recognize and correct its errors. It invariably does and share price climbs. When the price has risen to the actual value of the company, it is time to take profits, which then are reinvested in a new undervalued security. - Benjamin Graham

This approach has both proven very safe and provided high annual returns, but it does require some patience. Sometimes the patience needed may appear quite considerable. But most of the stock picks in our experience have not taken that long to show unrealized profits, (even if we might not sell them right away).
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