Diversify Your Investments!
Diversity Has Never Been More Important
In an age of bitcoin and unsubstantiated claims of 700%+ yearly profits on alt-coins or alternative investments it's more important than ever to think about diversifying your investments.
Invest In Businesses Across Different Sectors
We've seen time and time again people get burned on their investments, whether it's through the illegal actions of a Crypto giant like MtGox or a penny stock that just couldn't deliver. These are risky investments and although they have a place in every portfolio, they should not be your entire portfolio!
Don't Put All Your Eggs In One Basket
It's really easy to let emotions get the best of us, human beings are emotional, that's why every great investor needs to come up with a solid plan and stick with that plan. Find 10-20 different companies or investment opportunities that you researched independently, with solid balance sheets or promising potential and investment in them equally, or weigh them based on their risk and invest in them accordingly, but don't put all your eggs in one basket!
Two Heads Are Better Than One
The most successful people on the planet don't do it alone. Whether you're Steve Jobs or Jeff Bezos, they didn't take the road to success completely alone. They had their drive and their intuition but they also relied on other people to help them pave their vision. When it comes to investing it's no different. Connect with several friends, or individuals who are interested in finding investments, and each of you independently find 10-20 companies that you want to invest in. If more than one of you finds the same company, you might be onto something! Compare notes and make sound decisions, and you'll always feel safe with your investments and you will be impressed at your returns.
Nice post, really solid advice. Diversification is especially important recently with the market being so volatile.
Thank you. Absolutely! There's money to be made even in a bear market, but you can't earn it if your only investment is carrying your cash floor to the ground. By having several investments you can leverage your positive positions to take advantage of volatile markets.
Hey @mrcoolizade, great post! I enjoyed your content. Keep up the good work! It's always nice to see good content here on Steemit! Cheers :)
Thanks again for your support! I'm so happy to have such a great platform to share on!