The single best stock to own over the last 50 years had nothing to do with technology or innovation. It was a cigarette company that makes the same product today as it did a century ago.

And that story isn't unique. There are actually dozens of companies with boring, monotonous products that rarely change that have crushed the overall market for decades on end.

In this video, Fool columnist Morgan Housel and Austin Smith discuss why a list of boring companies have achieved stellar returns over the long haul. 

Austin Smith has no positions in the stocks mentioned above. Fool contributor Morgan Housel owns shares of Altria Group. The Motley Fool owns shares of The Clorox Company. Motley Fool newsletter services recommend Nucor. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.