A lot of CNBC-type news and market analysis focuses on the short-term performance of individual stocks. But that doesn't necessarily give financial advisors the best picture of how their clients' equity portfolios are performing over the long term, the typical time horizon for most wealthy clients.

That's why Morningstar recently conducted a review of 15 Richest Stocks AND 15 stocks that destroy wealth during the last decade.

(A few months ago, Morningstar ranked first 15 wealth creation AND asset destruction fundswhich WealthManagement.com noted.)

The list of top wealth creators includes some of the most notable names, including Apple, Google, Microsoft, Amazon and Tesla.

Here, we highlight the top wealth-destroying stocks that may provide a cautionary tale for advisors who invest client assets in individual securities. In total, these 15 stocks destroyed about $281.2 billion in shareholder wealth over the past 10 years. Morningstar portfolio strategist Amy C. Arnott points out that some of these names are large-cap stocks that once dominated their industries, such as GE Aerospace, the legal successor to General Electric.

“While the remaining companies span a variety of industries, sectors and fundamental problems, many have a common thread: the lack of an economic gap or sustainable competitive advantage,” Arnott wrote. “Ten of the companies on the list have no economic gap and another three have a narrow economic gap.”

Arnott measured wealth destruction by finding the companies with the biggest declines in market capitalization, then adding the total value of dividends paid and stock spinoffs.