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Money Matters
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Old 04-26-2015, 10:43 AM   #1
bimmerfan08
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Anybody else follow this principle?

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If you want to make a statement that we all ought to get on board to fight poverty, I'm with you. If you want to say that we ought to fight income inequality I'm not with you at all. Because I don't think that the rich guy stole from the poor guy. In fact rich people don't get rich by stealing from poor people because it turns out poor people don't have money.
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Old 04-27-2015, 03:46 PM   #2
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Well, the second thing makes sense (don't depend on only one source of income), the don't diversify is pretty stupid though.

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Old 04-27-2015, 03:49 PM   #3
bimmerfan08
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Well, the second thing makes sense (don't depend on only one source of income), the don't diversify is pretty stupid though.
I've always read and been told to diversify which is why I posted the question. Never really ran into anybody who's followed this principle though. Maybe for heavy investors who rely on it for their main source of income?
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If you want to make a statement that we all ought to get on board to fight poverty, I'm with you. If you want to say that we ought to fight income inequality I'm not with you at all. Because I don't think that the rich guy stole from the poor guy. In fact rich people don't get rich by stealing from poor people because it turns out poor people don't have money.
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Old 04-27-2015, 04:04 PM   #4
SLVR JDM
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Sure, you can lack diversification and come out just fine. It is terrible blanket advice though. In fact, very few people should be doing this.
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Old 04-28-2015, 03:53 PM   #5
Wraisil
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I've always read and been told to diversify which is why I posted the question. Never really ran into anybody who's followed this principle though. Maybe for heavy investors who rely on it for their main source of income?
The only time I could see "don't diversify" as acceptable advice would be if someone was exceptionally knowledgeable on one type of investment and diversification would prevent them from using that knowledge while having them invest in other things "blindly". (i.e. Joe Schmoe knows his real estate market and could invest all his money in rental properties with significant expected returns but not if he takes a decent % of that money and puts it in the stock market where he's oblivious and would probably pick random penny stocks as his "investment" in the stock market...). In general though, it sounds like a really bad idea (and in particular, it seems like a decent idea only if a person is retarded-smart on one investment method but otherwise just plain retarded...
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