When it comes to investing and building a reliable long-term portfolio, having adequate diversification is essential. Whether it’s spreading your portfolio across sectors or balancing among growth stocks, value plays, and defensive assets, diversifying helps reduce risk and improve your long-term returns. And while there are plenty of high-quality stocks on the TSX, if I had to narrow it down to just one Canadian stock to buy and hold forever, there’s one name that stands out above the rest.
In fact, if I were forced to own just one investment, I probably wouldn’t pick a single stock at all. I’d lean toward an ETF that provides exposure to hundreds of companies and covers a wide range of industries and geographies. That’s undoubtedly the best approach when diversification is the goal.
However, if I had to pick one single Canadian stock to buy without hesitation, I’d pick Brookfield Infrastructure Partners (TSX:BIP.UN).
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