It is a very good idea. I have posted a few good stocks at ‘Portfolio 2K15’, but to undertake to update it regularly is an onerous responsibility that is impossible for anybody.
Good stocks are generally good for lifetimes but one has to certainly review them every quarter. Any short term under performance or deviation from established long term behaviour may be ignored but such actions like management change, merger with an undesirable company, etc., which have the potential to affect long term prospects should be recognised and stock may have to be sold in deserving circumstances.
Note: This is a reproduction of the question I had answered on the website ‘Quora’, which I thought could be useful to the visitors to this blog site also.