What is the meaning of Long position?

Having a' Long position' when you own a stock or bond means you have the right to collect the dividends or interest it pays, the right to sell it or give it away when you wish, and the right to keep any profits if you do sell. It's the opposite of having a short position, which means you have borrowed shares from your broker, sold them, and must return them at some point in the future. The term long position is also used to describe stocks or bonds you own that are held by your brokerage firm in street name.