There was a time when many investors said with pride that they owned only blue chips. Today, there are probably only a few of them left. And even if you ask them what a blue chip is, their answer may be vague. That’s understandable. Because a blue chip’s definition has changed with the economy. Twenty years ago, only MNCs made the cut. Today the list looks very different. So it is worth setting the definition down again, plainly. A blue chip is a company whose management has a track record. One that sits among the top two in its industry. And one that still has a long road left to grow.