If you had to choose just one stock to hold for the rest of your life, which would it be?
It’s not an easy question. Modern portfolio theory emphasizes diversification as a way to reduce risk and smooth out returns. Still, narrowing your focus to a single “forever” stock can be a valuable exercise—it forces you to identify companies with enduring competitive advantages, strong leadership, and long-term growth potential.
For me, that stock would be Brookfield Corporation (TSX:BN).
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A Financial Powerhouse
Brookfield is one of Canada’s most dominant financial services firms, with operations spanning virtually every major financial subsector. Under the leadership of CEO Bruce Flatt, who took the helm in 2002, Brookfield has delivered exceptional performance. Over the past two decades, the company has compounded shareholder returns at roughly 16% annually, significantly outperforming both Canadian and U.S. markets. Brookfield’s ambition is to sustain similar growth in the years ahead.
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Strategic Acquisition of Oaktree
Brookfield recently made headlines by completing its full acquisition of Oaktree, the world’s leading distressed credit investment firm. The company had already owned 62% of Oaktree since 2018, but the full buyout now gives Brookfield complete operational control. This move enhances Brookfield’s stature in global finance and grants it access to some of the most exclusive Wall Street transactions.
A Deal-Making Machine
Brookfield’s growth is also fueled by its relentless deal-making. In July, Brookfield Renewable Partners (TSX:BEP.UN)(TSX:BEPC)—48% owned by Brookfield Corporation—signed a $3 billion power supply agreement with Alphabet. The year before, it secured a deal to deliver 10 gigawatts of renewable energy to Microsoft. These landmark agreements not only strengthen Brookfield Renewable’s position but also create substantial value for Brookfield Corporation itself.
Strong Performance and Profitable Growth
Brookfield continues to grow both in the market and operationally. In its most recent quarter, distributable earnings (DE) rose by 13% year-over-year, with a healthy 7% DE margin. The company’s proven ability to scale its asset base and generate steady cash flows underpins its long-term investment appeal.
Attractive Valuation
Despite a sharp rally—BN stock has surged over 100% since its 2023 lows—Brookfield still trades at reasonable levels. The stock is valued at 1.35× sales and 15× distributable earnings, and continues to trade at a slight discount to its net asset value (assets minus debt). Historically, that discount has been even wider, but even at current levels, BN remains attractively priced relative to the underlying value of its assets.
Bottom Line
Brookfield Corporation combines scale, global reach, a proven leadership team, and a track record of market-beating returns. For investors forced to pick a single TSX 60 stock to hold for life, Brookfield stands out as a compounding machine with durable growth drivers and a reasonable valuation.
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