Longs, also known as long positions, refer to a situation in which an investor purchases an asset, such as a stock or commodity, with the expectation that its value will increase over time. Longs are essentially a bullish bet on the future performance of an asset. An investor holding a long position profits when the asset’s price goes up, and loses when the price goes down. The term “longs” is often used in contrast to “shorts,” which refer to investors who are betting that the price of an asset will go down.