** Diversification is for idiots - Mark Cuban**
Yes that was said by Mark Cuban the Billionaire.
I know that most of you have been sold this idea of diversifying your investments for nearly all of your life. At least those of you that had some sort of financial background whether it be from your parents or schooling.
But it is a lie, a myth propelled on you by Wall Street, why, because Wall Street benefits when you diversify.
You see, if you have 100 or more investments, you need a professional. And that is why wall street has sold you on diversification. That is the basis that all these big funds are built on. And why Wall Street continues to get so rich.
You see, the rich, and I’m talking about the truly wealthy, the top 1%, they go all in on one or two bets. They don’t have a thousand investments. At least not in the beginning. The way they created wealth is they pushed all in. - Grant Cardone
I completely believe this and it is what I am doing as well. I am not diversified in 500 different investments. I have two. Multi-family real estate investing and Forex. That’s it!
And 99% of my time and my money is spent in forex. And due to not diversifying, I have made an incredible amount of money. I’m not in Stocks, bonds, or options, or commodities like buying gold or silver, and I certainly don’t have any of those crappy mutual funds out there either.
I went all in with my currency trading business. And if you want to get ahead, and get ahead fast, then you are going to have to do the same. Cut out all of those other investments that you are doing. You have 30 different stocks, 10 mutual funds, bonds etc, trade those in for your Forex account.
Now, I can hear people screaming at the podcast right now.
“Whhhhhaaaaattttt????? Is this guy crazy??
Maybe I am. But after studying the truly wealthy people and finding the commonalities between them, and even being personally mentored by a few ridiculously wealthy individuals, I have learned this is what they all do.
And if you want to be like them, you have to do what they do.
Don’t listen to all these people that have just as much as you do or less try and tell you how to run your life or money. I actually had a conversation the other day with someone that had less than $100 to their name try and talk to me about what I should be doing with my money. This conversation of course sparked this episode.
Now don’t get me wrong, I can learn something from anyone. But when someone with no money and no idea about how to get money tries to tell me how to make money and what to do with it, I’m sorry if I don’t fully pay attention to you. I am not being rude, but, well, yeah ok maybe I will be a bit rude. That’s just me.
I listen to those that have more than me. That have whatever it is that I want. If I want a billion dollars I need to go associate myself with billionaires and learn from them how to make a billion dollars. Not go to the guy at the quicky-mart to discuss financial topics.
If you want to learn something, like forex, since this is a forex podcast, you need to seek someone out that knows about forex that can teach you. But not just someone that knows about it. Someone that is currently doing it and is successful at it. There would be no point in learning forex from someone that was in it 10 years ago that is no longer trading, or someone that was in it that quit because they weren’t successful at it. You have to learn from those that are where you want to be.
So getting back on the topic at hand, most of the really successful and wealthy people that I know, and know about have all said the same thing. Don’t diversify. Go all in.
So I don’t want you to diversify. Go all in with your education of forex. Learn everything you can from the best people. Then trade and make your wealth. You CAN do it. I know you can. And if you need help with the whole Forex education, I am here for you.
In fact, I am going to be holding a personal Online Coaching Grou...