What does "going long" vs "shorting" a stock mean?

Going long means buying a stock expecting its price to rise — the standard buy-and-hold approach. Shorting (short selling) means borrowing shares and selling them, hoping to buy them back later at a lower price to profit on the decline. Short selling is complex: losses are theoretically unlimited if the stock rises, and you pay a borrow fee. Short selling requires a margin account and broker approval.