What Is The Best Stock To Buy? An 'Irreplaceable Asset.'

It's one of the most common questions you'll get from the average investor: What is the best stock to buy?

In my former life as a financial advisor -- as well as my current role as Chief Investment Strategist for StreetAuthority's Top Stock Advisor premium newsletter -- I'm used to getting this question often.

The simple answer is, of course, "it depends." But if there's one thing I've learned in all my years of analyzing the market, there's one answer -- one investment -- that has always been a tried-and-true answer to this question. But to truly understand it, allow me to share a brief story with you...

Boulder Canyon sits in the middle of some of the most unforgiving land in America. During the summer, temperatures frequently top out near 120 degrees. Less than five inches of rain fall each year. Rattlesnakes and scorpions hide under rocks. And the sharp cliffs are near-impossible to scale.

Before I get too far... no, I am not recommending that you invest in the Hoover Dam. Even if you wanted to, it's fully owned by the U.S. government. There's not a stock you can buy that gives you access.

Instead, it's what Hoover Dam represents that is the true opportunity to grow your wealth.

Let me explain...

The Hoover Dam (originally called Boulder Dam) project was massive. At its peak, more than 5,000 people worked on it at the same time. And the dam contains enough concrete to pave a two-lane highway from San Francisco to New York City. In total, construction costs came to $49 million by the time it was finished in 1936.

That $49 million investment is the sole reason why millions of people are able to live in the Las Vegas area today. And it has generated billions of dollars of wealth in the process.