The Wolf Den #294 - The Truth Behind Diversification
thewolfden.substack.com
This newsletter is sponsored by PHEMEX, the world's best crypto exchange for both spot and leverage. Sign up with the link above and get some free Bitcoin. I really encourage you to check them out.IF YOU HAVE ANY ISSUE WITH THE NEWSLETTER OR YOUR SUBSCRIPTION, PLEASE CONTACT: PREMIUMSUPPORT@GETREVUE.COThe Truth Behind Diversification There is an age-old concept in finance that an investor should always diversify their portfolio. This is certainly a safe route, but is not always the best route for each individual. In my recent podcast with Mark Yusko, he stressed the following point: diversification maintains wealth, but concentration achieves wealth. The caveat is that you choose the winning horse to concentrate your portfolio or efforts on.Your strategy is also largely dependent on your age and financial situation. A younger person with no dependents can obviously take more financial risk and can risk going all in, going broke and rebuilding.There is always added risk to putting all or most of your eggs in one basket, but this is how most rich people have achieved their wealth in the first place. I just had Anthony Scaramucci on the podcast, and we had a conversation about this exact topic. Scaramucci gave the example of Jeff Bezos, who focused solely on building Amazon. As a result, he never sold his shares and has become the greatest concentrated asset allocator in the world.Even famed investor Warren Buffett famously said, "keep all your eggs in one basket, but watch that basket closely."If Bitcoin is your only basket, take the time to build an unshakeable conviction that is unaffected by FUD. If you can avoid making mistakes and trading away your precious Bitcoin, your strategy of concentration could pay major dividends down the road.Then you may choose to diversify to protect your wealth.In This Issue:The Truth Behind DiversificationBitcoin Thoughts And AnalysisAmazon Denies Bitcoin Rumor - ObviouslyMan Group Will be Left BehindGrayscale Is Committed To ETF SuccessETF Applications Are All The RageThe Wolf Of All Streets Podcast Ft. Anthony ScaramucciMy Recommended Platforms And Tool
The Wolf Den #294 - The Truth Behind Diversification
The Wolf Den #294 - The Truth Behind…
The Wolf Den #294 - The Truth Behind Diversification
This newsletter is sponsored by PHEMEX, the world's best crypto exchange for both spot and leverage. Sign up with the link above and get some free Bitcoin. I really encourage you to check them out.IF YOU HAVE ANY ISSUE WITH THE NEWSLETTER OR YOUR SUBSCRIPTION, PLEASE CONTACT: PREMIUMSUPPORT@GETREVUE.COThe Truth Behind Diversification There is an age-old concept in finance that an investor should always diversify their portfolio. This is certainly a safe route, but is not always the best route for each individual. In my recent podcast with Mark Yusko, he stressed the following point: diversification maintains wealth, but concentration achieves wealth. The caveat is that you choose the winning horse to concentrate your portfolio or efforts on.Your strategy is also largely dependent on your age and financial situation. A younger person with no dependents can obviously take more financial risk and can risk going all in, going broke and rebuilding.There is always added risk to putting all or most of your eggs in one basket, but this is how most rich people have achieved their wealth in the first place. I just had Anthony Scaramucci on the podcast, and we had a conversation about this exact topic. Scaramucci gave the example of Jeff Bezos, who focused solely on building Amazon. As a result, he never sold his shares and has become the greatest concentrated asset allocator in the world.Even famed investor Warren Buffett famously said, "keep all your eggs in one basket, but watch that basket closely."If Bitcoin is your only basket, take the time to build an unshakeable conviction that is unaffected by FUD. If you can avoid making mistakes and trading away your precious Bitcoin, your strategy of concentration could pay major dividends down the road.Then you may choose to diversify to protect your wealth.In This Issue:The Truth Behind DiversificationBitcoin Thoughts And AnalysisAmazon Denies Bitcoin Rumor - ObviouslyMan Group Will be Left BehindGrayscale Is Committed To ETF SuccessETF Applications Are All The RageThe Wolf Of All Streets Podcast Ft. Anthony ScaramucciMy Recommended Platforms And Tool