Could Buying Amazon Today Set You Up for Life?
Is Amazon really the only stock you need for a lifetime of wealth-building?
I don't recommend putting your entire nest egg in a single stock. Your life savings and retirement plans belong in a diversified portfolio. You can simulate that low-risk approach with a market-tracking exchange-traded fund, like the Vanguard S&P 500 ETF (NYSEMKT: VOO). It's very hard to come up with just one stock that you could trust with your entire wealth forever.
That being said, Amazon (NASDAQ: AMZN) strikes me as one of the best cornerstones for that diversified long-term portfolio. The giant of e-commerce, artificial intelligence (AI), and cloud computing is built to last for decades. It operates in several robust industries. The company is also flexible enough to find and pursue entirely new business ideas as the market changes.
So how close is Amazon to that mythical single-stock investment strategy? Let's take a look.
