Investing always carries a bit of risk, but you can bring that risk down to an absolute minimum by taking one specific move: and that's selecting a core group of solid companies to hold onto for the long term. These players should have a track record of earnings growth, an impressive market position, and prospects that ensure earnings strength well into the future.

In many cases, these companies will be familiar names, selling products you use every day. But you also may discover new-to-you players in fields -- such as biotech -- that you may not connect with on a daily basis. You can buy these stocks with confidence, knowing that over time, the companies have proven themselves -- and may continue winning. Here are five you can confidently invest $500 in right now.

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Source Fool.com