As regular readers know, I’m a big fan of a group of companies I like to call my “forever stocks.” Put simply, forever stocks are businesses that can build your wealth, not just for months or quarters, but for generations. They are wonderful, legacy-type assets that you could literally own for the next 100 years. Forever stocks deliver a product or service you probably use every day. In contrast to banks or hedge funds, forever stocks don’t deal in complicated financial products.
In other words, they’re timeless. In all my years of investing, I’ve found that it’s not the hot startups or biotech names that make investors the most money. Rather, the best investments tend to be stodgy dividend stocks that crank out distributions decade after decade. Case in point: American Water Works Company Inc (NYSE:AWK). American Water Works has the excitement of a bologna sandwich. The company is the largest public water utility in the world, providing wastewater, drinking water, and other related services. Though the firm doesn’t get mentioned much at cocktail parties, the company meets my criteria of a “forever stock” for a couple of reasons.
Source: Income Investor
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