The One-Stock Portfolio: The Simplest Path to Wealth

What if everything you’ve learned about diversification is wrong? In this provocative and eye-opening book, Heikin Ashi Trader presents a radical yet timeless investment strategy: instead of spreading your capital, he recommends concentrating it—on the one idea you truly believe in. Buy and own just one single stock!

Drawing on legendary examples, this book demonstrates why concentration—not diversification—has created the greatest fortunes in stock market history. A portfolio of 50 stocks may feel safe, but it doesn’t instill real conviction. It’s time to stop thinking like an investor who acts like a portfolio manager—and start thinking like an entrepreneur.

Table of Contents

Part 1: Why One Stock Is Enough to Build Wealth – Why we invest – Most fortunes in the stock market were made with a single stock – Wealth comes from focus – Find something that grows 20% per year – Why not two or three stocks? – Why Warren Buffett is also a one-stock investor – Why passive investing with ETFs limits your returns – How to belong to the “strong hands” – Why patience is the key to stock market success – The power of deep conviction – Don’t buy a stock—buy a business – Why we underestimate trends that can last for decades – The hardest part of a one-stock portfolio: doing nothing

Part 2: How to Find the Right Stock – Most stocks are losers – What makes a stock a compounding machine? – Find a company that can grow for decades – Find a company with a strong moat

Network effects

Brand power

Technological edge / patents

Cost leadership & economies of scale

High switching costs for customers – Are there companies that combine all five types of moats? – The founder and visionary – When the brain runs the company – Industries that create billionaires – The role of network effects and monopolies – Why you should buy the market leader

Part 3: How to Buy the Right Way – Time in the market beats market timing – Should you invest all your money at once? – Dollar-cost averaging – the smart way to build your stock position – The right charts for long-term investors

Part 4: How to “Manage” Your Portfolio – Don’t talk to anyone about your investment – Don’t fear volatility – Selling too early – the most dangerous temptation – Signs your stock is no longer a winner – When the business model fails – Alternative exit strategies – Own it instead of selling it

Part 5: Case Studies – How Stewart R. Horejsi became a billionaire with a single stock – Grace Groner held one stock for 75 years – Sylvia Bloom and JPMorgan Chase – The best-performing stock of the last 100 years was a tobacco stock! – The Apple man – Retiring with Tesla: The story of Jason DeBolt – Andrew Hall: The one big win – and why it usually only happens once – How Keith Gill made millions with GameStop

Part 6: Lessons from Failure – Investors who failed with single-stock bets – How to protect yourself from worst-case scenarios

Part 7: Alternatives to Stocks – How much capital do you need for a one-stock portfolio? – Profiting from stock trends with long-dated options – Why Bitcoin could be a strong candidate for a one-stock portfolio

Afterword Glossary

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E-raamat: 25. juuli 2025