Stocks to buy and hold for 50 years

Stocks to buy and hold for 50 years

Investors have officially shut the door on the 2015 trading year - albeit with some pretty lackluster returns for the major averages. Although the Nasdaq finished up nearly 6 percent, the Dow Jones Industrial Average and S&P 500 Index finished the year close to where they started.

That said, those looking into the distance and focusing on long term investments may not be too concerned about this year's relatively flat performance -especially millennials who may be set to jump into the market in the new year.

According to a recent Bank of America study, 82 percent of millennials say they will invest more in 2016. So where should they be looking to invest for the long run?

Francine Lai, a financial advisor at Gerber Kawasaki, said if investors are looking at stocks for the next 50 years, they should be focused on what she calls the "blue chips of the future." She thinks Facebook and Netflix are great fits for young, less risk-averse clients.

"These are exciting companies. Millennials like to buy companies that they know, companies that they are familiar with. Facebook is exciting, growing and a blue chip of the future," she said on CNBC's "Closing Bell" recently. "I don't think they are going anywhere. If anything they are gaining traction."

Yet given rapid shifts in technology and social media, Steve Dudash, president of IHT Wealth Management, doesn't agree that a company like Facebook will be around in the coming decades.

"I want boring companies," he said. "If we are trying to talk about something for the next couple decades, I can't look you in the eye and tell you Facebook is going to be here in 20 years."

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