Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
Do you diversify your portfolio across various sectors? Most investors believe diversification reduces volatility in an investment portfolio and offers greater protection versus "putting all your eggs in one basket."
If your portfolio is diversified then you are a "weak minded" person, at least according to Blackstone's vice chairman and investing guru Byron Wien.
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Wien was quoted by Business Insider as saying in a podcast that not only is diversification is for the "weak minded" but investors who concentrate capital into segments that they are "really excited about" can lead to making "some serious money."
Wien stated that his investment philosophy was taught to him by his mentor, Edgar de Picciotto who was the founder and chairman of Union Bancaire Privee.
"I don't think I originated this but I've been lucky enough to build up a significant personal net worth, and I've done it by taking risk," Picciotto said. "I'm a big believer in taking risk by concentrating (that's the lesson I learned from Edgar), and by cutting my losses quickly and letting my winners run. So I have some stocks in my portfolio that I've literally made 100 times my money on and I've used those stocks to make charitable contributions."
Bottom line, what's worked for him may not work for all investors He did however caution that crowded trades are almost always dangerous.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.