I'm starting a new series on long-term investments. The criteria for companies to be evaluated is those that are well-established, large and proven businesses, with long-term stable earnings. These are the types of companies that are great for 5 - 10 year holds. This series would evaluate these kinds of companies on a qualitative and quantitative basis. The qualitative criteria involve examining their long-term sustainable competitive advantage, and growth/innovation. On the quantitative side, I will be using a traditional discounted cash flow model to estimate the value of the firm. The discounted cash flow model