Creating a Forever Portfolio: 5 Stocks to Buy and Never Sell

Parkev Tatevosian, CFA•Sep 8, 2026

Summary

Parkev outlines a investment strategy focused on long-term ownership of companies with nearly insurmountable competitive advantages. Parkev highlights that for these 'forever' stocks, the focus shifts from short-term price fluctuations to the strength of their business models and networks. Parkev provides a detailed analysis of five companies, discussing their market positions, risks, and internal fair value calculations.

Visa (V): Parkev highlights the massive two-sided network of over 4 billion cards, which forces merchants to accept it as a payment method. Parkev notes that while innovation from crypto or fintech is a risk, high switching costs for merchants maintain Visa's dominance. Parkev calculates a fair value of $387 against a current market price of $378.

Amazon (AMZN): Parkev points to the massive fulfillment and logistics network as a moat that is nearly impossible for anyone except Walmart to replicate. Parkev also mentions that Amazon is expanding its lead in cloud services with AI-optimized data centers and proprietary chips. Parkev calculates a fair value of $308, suggesting the stock is roughly 20% undervalued at its current $255 price.

Netflix (NFLX): Parkev emphasizes Netflix's ability to produce content cost-effectively while maintaining high operating margins above 30%. Parkev values the growing library of content that retains its value over decades, though Parkev identifies short-form video as a primary threat to younger demographics. Parkev calculates a fair value of $127 compared to a current price of $82.

Procter & Gamble (PG): Parkev views this as one of the best-managed companies globally, with a robust system for talent development and a massive logistics network. Parkev explains that the company's scale makes it difficult for small competitors to survive, and Parkev notes its strategy of acquiring successful newcomers to strengthen its brand portfolio. Parkev calculates a fair value of $174 with a current market price of $148.

Hershey Company (HSY): Parkev describes Hershey's dominance in the chocolate industry, benefiting from economies of scale in marketing and raw material procurement. Parkev notes that unlike the tech or auto industries, the confectionery business attracts very few new competitors, allowing Hershey to maintain its niche for decades. Parkev calculates a fair value of $244 compared to a market price of $179.

Mentioned Stocks

AMZN

Sentiment: BUYAction: BOUGHT

Reasoning: Parkev values Amazon's massive fulfillment infrastructure and growing AI/Cloud capabilities. Parkev identifies the stock as being approximately 20% undervalued, with a calculated fair value of $308 compared to a market price of $255. Parkev already holds the stock and expressed interest in adding more.

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Sentiment: BUYAction: BOUGHT

Reasoning: Parkev notes that Visa has a powerful two-sided network and industry equilibrium with Mastercard that leads to high profitability. Parkev explicitly mentions owning the stock for years. Parkev calculates a fair value of $387 and believes the current price of $378 offers a fair entry point for a top-tier company.

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NFLX

Sentiment: BUYAction: BOUGHT

Reasoning: Parkev describes Netflix as the streaming leader that has perfected cost-efficient content creation with 30%+ margins. Parkev considers it one of the largest positions in Parkev's portfolio. Parkev calculates a fair value of $127, while the current price is $82.

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Sentiment: BUYAction: RECOMMENDED

Reasoning: Parkev views Procter & Gamble as an exceptionally well-run consumer staples giant with an unmatchable global distribution network. Although Parkev does not own it yet, Parkev is interested in acquiring it due to its calculated fair value of $174 against a market price of $148.

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HSY

Sentiment: BUYAction: RECOMMENDED

Reasoning: Parkev highlights Hershey's strong niche and high barriers to entry in the confectionery market. Parkev notes the company's significant undervaluation, calculating a fair value of $244 compared to its current trading price of $179.

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