Christmas Post - Putting The Eggs In One Basket
December 25th, 2008. Published under UrbanSpeaker. 1 Comment.
Merry Christmas, Happy Hanukkah, etc to all the US readers! Hope you are having a great time.
Today’s post will be short, concerning putting all your eggs in one basket. With the recent destruction of even more personal wealth through the Madoff scandal, I thought this would be a fitting topic.
Warren Buffett said diversification is important, but it is better to put all your eggs in one, well-planned basket, then guard that basket with your life.
Do your research, check and double check your calculations, then put fully yourself behind your decision. Wide diversification is really a protection against ignorance, and is not necessary if you really know what you are doing. Then again, if you are unsure of what you are doing, then you probably shouldn’t be doing it.
On the flip side, there always are these scandals that can destroy even the most prudent investor. A little diversification isn’t always such a bad idea, is it?
TYRONE on September 5th, 2010
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