If You Are Not Sure About Bitcoin This Is the Episode for You - Why It Deserves a Place in Your Pension and Long Term Portfolio (Bit Coin, Wealth & Investing)

Everyone's been taught the same thing about money.

Well, most people have to diversify, to spread it out.

Don't put your eggs in one basket.

And look, it's not wrong to do that.

I do that to a certain extent, but it's only half the story.

And it's the half that keeps you comfortably average forever.

The bit that no one tells you is look at the actual rich people in America, the Forbes 400 list, proper research studied on this.

Nearly every single person on that list got there through concentration, not diversification, concentration of their assets and their investments.

Warren Buffett, who's about as far from a gambler as you can get, he is not into risk.

He says it outright still, diversification is protection against ignorance.

It makes little sense if you actually know what you're doing.

So what he's saying is, if you don't know what you're doing, you have no clue about investing, diversify across everything and just do your job.

And really that's quite good advice for most people.

If you don't really want to spend time learning about stuff and investing, Just diversify.

And, you know, really what's going to happen is you're not going to get rich.

You're just going to sort of keep pace with everybody else.

It means your savings and the money you're earning your job isn't going to go backwards.

You're probably going to win some, probably going to lose some.

And then eventually at the end of your life, you can have an average amount of money that has roughly grown with inflation over the years.

But think about the people who bought Amazon shares in the 90s when it was just an online bookshop that everyone thought was mad or other people who bought Google at the IPO or your mate who started a business instead of getting a safe job with a pension and a bit of everything.

That's concentration.

That's what actually builds big outcomes.

Diversification never made anyone a billionaire.

It's not supposed to.

No one's saying that it will.