Investing For Entrepreneurs
"Invest in what you know." It's the mantra of do-it-yourself stock pickers, the reality check against Wall Street fads, the gold standard of common sense. It's also perhaps the most dangerous advice an entrepreneur can get. u Buying things you understand may be a great strategy for wage earners because it lowers the risk that they'll be wrong. But for an entrepreneur, it compounds the risk by putting more of your money in the same industry where you already have your biggest asset--your company. The result: Your portfolio might collapse at the same time your business is struggling, dealing a double whammy to your net worth.
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