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Five companies with the Midas Touch

The phrase “The Midas Touch” refers to the ability to succeed at pretty much anything one attempts.

The term is usually used to describe people that seem to always conquer anything they attempt, but you can also apply it to companies that have proven an ability to consistently turn a profit, and consistently manage to navigate and pivot in order to keep pace with the changing market conditions.

Wall Street craves growth more than anything else. Companies can not simply rely on their current business models and expect to stay in Wall Street’s good side. The business world is very fluid, and companies that are unable to adapt and pivot are doomed.

The list of such companies is very long. Think of names such as Dell, Radio Shack, or Blockbuster. These companies, at their prime, seemed unstoppable. But in each case, they failed to adapt.

It is important to mention that we are not looking for companies that have never failed with product launches. Companies that are afraid to fail will never succeed, so there is nothing wrong with seeing a company like Google (GOOGL) fail with Google Glass, you have to accept that the fact the company took the risk is a sign that it has what it takes to eventually pump out the world’s next great product.

We want to look for companies that seem to overcome adversity, or market skepticism, and come out stronger on the other end.

The following companies seem to have The Midas Touch, which makes them highly attractive long-term buy and hold candidates.

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Michael Fowlkes

Michael Fowlkes is a financial writer who has been with the Fresh Brewed Media family since 2004. Over the course of his tenure with Fresh Brewed Media, he has worn many hats, including portfolio manager, options analyst, and writer. Michael received his undergraduate degree from Virginia Tech in Accounting and got his start in finance working as a stock trader for six years at Chase Investment Counsel in Charlottesville, Va.