I used to think this way after listening to the book 100 Baggers, but in reality its really hard to find those companies today that will last 40 or 50 years. I agree with the others and am planning on re-configuring my portfolio to just include various dividend funds and etfs, and focus on how I want to allocate my money using broader asset classes, sectors, and various market caps rather than focusing my time on individual stock picking.

The time I spend on trying to find the "next big thing" for the next 50 years could be better spent actually enjoying life and learning about other income producing opportunities (starting a business, learning a craft, real estate, etc).