September 25, 2019
Good Morning Barry! ‘The Bear’ asked me for some stock market advice … I hesitate answering directly, however… the words of Mark Cuban, the tech billionaire, owner of the Dallas Mavericks, and star of “Shark Tank.” came to mind.
“Diversification is for idiots.”
Strong words? To be sure. But I agree with him. And here’s why…
Even though the Wall Street Journal, your stock broker, and even your brother-in-law preach “diversification” as the best way to get rich in the stock market…
History shows it just ain’t so.
The world’s greatest fortunes have always been built by investors who were willing to focus their attention on a handful of stocks — or even a single stock.
Gates. Bezos. Zuckerberg. Walton. Rockefeller. Carnegie. They all got rich through intelligent concentration not mindless diversification.
Hope that advice will come in handy Y’all… 😉