My grandfather thinks its better to invest only in what you know. What does Benjamin Z Miller think?

Good question.

In general by investing in what you know you have an advantage but this is often used as a crutch many investors lean on to avoid thinking because they are too lazy to learn something new.

It just indicates a lazy attitude and closed minded way of thinking. Imagine years ago people that only invested in buggies how well they ended up as the world changed. That one thing they knew was made obsolete. They would have been smarter to allow some diversification and new things in their portfolio.

Sure, don’t invest a lot of money in things that you don’t know but don’t turn into a parrot that just repeats cliches that other investors say like, “I only invest in what I know!”

Better to explore some new things and keep an open mind instead of just saying, “I only invest in what I know” while being too lazy to learn anything new.

I hope that helps and good luck with your investing!

Benjamin Z Miller
www.benjaminzmiller.com
1-817-203-4160
[email protected]

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