I live in Canada and earn 2.5%. At my age (30) I dump the majority of my $$ in equities. “Savings” means little to me. My money needs to always be working. I keep 6 months of expenses in savings account and that is it. No RRSPs. I may be risk averse when I become older but I don’t see it happening anytime soon.
I am always looking for edges and opportunities in either sports betting or stock market. When it comes to both i do not diversify. I choose a few horses and ride them. Keep it simple with stocks… I just keep my eyes open and ear to the ground. Find out what young people are into and try to be ahead of the curve. Find a company you want to back and go all in. I have had really good success doing this and I am not going to change it up until it fails. I am invested heavily in Snapchat currently with that making up 25% of my portfolio. I will be looking to sell soon as I think it’s almost maxed. I went all in on a MJ company called canopy growth Corp and hit the jackpot. You need to find things that people could potentially become addicted to and push your chips in the middle.
I am looking to make a move back into MJ stocks when the opportunity presents itself. I am not looking for traditional MJ, I am looking for companies that specialize in extract products. They’re very potent, addicting, provide a cleaner high, don’t stink like regular MJ, consumers can’t make this at home like they can with regular MJ… and did I mention addicting? The company hasn’t presented itself yet, but it will and I will be there to capitalize. Another industry boom will be engineered food industry. Also investing in companies that specialize in making paper straws is not a bad idea. I bought a few shares in William Hill ( sports betting company) last week. Another exploding industry and they’re getting major North American contracts.
I’m sure seeing stock market crash would change my tune… but i am young enough that I haven’t experienced it. I have some in precious metals as well, and will continue to add there. Will never invest in real estate in my lifetime other than the roof over my head and a vacation property. Too much work for not enough reward to own income properties IMO. Those are for guys who are handy which I am not.
People try and over complicate investing. Keeping it as simple and lean as possible lowers risk… which is the exact opposite is what is believed to be true. That is if you are sharp enough to find edges. I don’t see the point in investing in a ton of different companies… just like sports bettors who are high volume bettors. If you are making 50 bets a week you have no edge… even if you think you do… just like having a diverse portfolio. Great thread idea.