2024-07-05 07:45:00 ET
Investing in equity markets is a reliable, wealth-growing strategy. In the past 33 years, the S&P 500 's average annual return is about 10.6%. It's hard to find a return much better than that elsewhere.
Some individual stocks have performed even better, though. Take Vertex Pharmaceuticals (NASDAQ: VRTX) , a leading biotech company whose average annual return since its 1991 initial public offering (IPO) is 15.1%. The drugmaker has grown by 10,310%.
It is an impressive performance, but Vertex still has plenty of growth ahead of it, and the stock looks like a solid buy-and-hold-forever pick. Here is why.
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1 Stock That Increased 10,000% in 33 Years to Buy and Hold Forever