blue chip stock: Do all blue-chip stocks help in generating long-term wealth?

An average long-term equity investor is often advised to invest in at least a few blue-chip stocks to give a boost to his non-equity investment portfolio. Every new equity investor who wants to invest in direct equities is advised by experts to invest in a blue-chip company as they are ostensibly considered most safe and a good long-term prospect for wealth generation. There are also many investors who consider these stocks as a good gift to