Easier said than done
What makes a great company? That's the rub. There are many ways to measure greatness. Costco (Nasdaq: COST), for example, has a high net promoter score. American Express (NYSE: AXP) and Tiffany (NYSE: TIF) have nearly unmatched brand and marketing savvy. Kimberly-Clark (NYSE: KMB) and 3M (NYSE: MMM) have long histories of innovation and devote significant resources to R&D. Google (Nasdaq: GOOG) and salesforce.com (NYSE: CRM) have unique corporate cultures and are among Fortune's "100 Best Companies to Work For."

We're not advocating that you go out and buy those specific companies, but they are the kinds of companies you should be buying (not trading!) right now -- and holding for the long term. In fact, one of them -- Costco -- has been recommended in our Motley Fool Stock Advisor investing service.

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This article was originally published Dec. 8, 2006. It has been updated.

Both Brian Richards and Tim Hanson own 3M, but no other companies mentioned. Costco is a Motley Fool Stock Advisor choice. Costco, American Express, and 3M are Inside Value picks. Kimberly Clark is an Income Investor selection. Google and salesforce.com are Rule Breakers picks. The Fool owns shares of American Express and has a disclosure policy that built this city on rock 'n' roll.