Concentration VS. Risk: How to Maximize Your Return with Concentration and Minimize Risk at the Same Time

In this episode, we discussed concentration and risk in both investing and financial planning. Nathaniel started the conversation by asking: why would anyone invest in your 20 fair ideas if you can invest in your best 5 ideas? The key is to understand your circle of competence. Like Nathaniel always says, I know what I know, and I know what I don't know. Dan added, the most dangerous investment is when people think they know something, but they truly don't. Using...