One-trick investment portfolios are everywhere. Do you have one?
What is a one-trick pony portfolio? It’s the kind of investment mix that is over-weighted or concentrated in one stock, one asset, or just one asset class. This is a common condition with company founders who have the bulk of their net worth tied up in the business or company stock.
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Diversification means different things to different people. In some cultures, diversification means having large families to diversify so that when mom and dad get old, there will be plenty of children and grandchildren to care for them in their old age. For the individual investor, diversification boils down to spreading your risk across a variety of major asset classes.
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