Maybe the lesson is “diversification of investments might be overrated, sometimes“—depending on your goals for the portfolio. I’m not sure this was a friendship issue, but a conviction of investment issue.
Diversification is primarily a “hedging“ strategy, for those who aren’t sure what they want to do, don’t believe in what they are already doing, or want to protect against the downside of “all of their eggs in one basket.“
I’m not sure Bill had any of those problems.
Bill Gates would be worth $1.47 trillion if he still had his Microsoft shares 😳
But he became friends with Warren Buffett and started to diversify his portfolio.
He’s worth only $106 billion today.
Lesson: choose your friends wisely.
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