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Invest wisely and diversify from "summary" of How to Think Like a Millionaire by Boyce Watkins
To build wealth, it is crucial to make smart investments and spread out your money across a variety of assets. This strategy is known as diversification. By investing wisely and diversifying your portfolio, you can minimize risk and maximize potential returns. When you put all your eggs in one basket, you are vulnerable to the ups and downs of that particular investment. If it fails, you could lose a significant portion of your wealth. However, by spreading your investments across different sectors, industries, and asset classes, you can reduce the impact of any single loss. Diversification allows you to take advantage of various opportunities in the market while also ...
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