When you look at it from a certain point of view, the whole of recorded human history is a history of "disruption."
Some unknown, ancient Chinese innovator put the papyrus and clay tablet makers out of business with paper. Fourteenth-century European tinkerers slammed the door on the sundial industry with their newfangled "clocks." Karl Benz put a lot of horses out of work. The Wright brothers torpedoed the luxury ocean liner sector.
I'm oversimplifying, but, clearly, if you ever get the feeling you're "King of the hill" or "the only game in town," it'd be a good idea to check your six - look behind you.
Disruption is the rule, but like any great rule, there are always exceptions - companies in sectors and industries that aren't, at least on any reasonable time horizon, susceptible to disruption.
In other words, sometimes you get a king that can't be dethroned.
These rare exceptions are in a pretty cushy position in the markets - free to run through a cycle of growth and consolidation practically ad infinitum. These are excellent long-term holds.
I've got an exceptional stock lined up for us today. First of all, the stock is a fantastic value in this market, with one-year price targets to kill for. The company is in a business that, by definition, cannot "go digital" or move online.
And best of all, it's flashing a very special buy signal...