Investors are now faced with the most important question of our time: Where should I put my money in this world economic recession?.
We think below is a very good answer for that question.
“There can only be one most important thing. Many things may be important, but only one can be the most important” – Ross Garber
Almost every powerful stocks got hit very hard past weeks due to Oil crash and the exponential spread of the deadly Corvid-19 coronavirus outbreak that has infected over 150,000 people across the globe, and killed over 6,000 people so far according to worldometers.
Diversification keeps you wealthy while Sameness makes you wealthy.
Let’s use texting while driving a car as an example.
According to research from the Virginia Tech Transportation Institute, texting while driving is associated with the highest risk of all cellphone-related tasks. The research found that text messaging causes drivers to take their eyes off the road for 4.6 seconds over a six-second interval.
“Driving a car is a very complex task,” says Barbara Harsha, executive director of the Governors Highway Safety Association, which estimates that distractions are associated with 15 percent to 25 percent of crashes at all levels. “It requires your complete attention. All it takes is a glance away for more than two seconds and you can get into serious trouble.”
Texting while driving is known to be multitasking. Multitasking is a word coined and used for computers way back, but the fact is that computer don’t really multitask, a computer is instead going through lines of codes at a super fast pace, making we humans believe computers are multitasking.
Diversify your portfolio with more than 1 stock makes one a stock juggler. It is impossible for most humans to concentrate on two things at the same time, as described above in the texting while driving example.
Everything cannot matter equally.
According to Johann Wolfgang von Goethe. “Things which matter most must never be at mercy of things which matter least”.
This post is highly inspired by Gary Keller and Jay Papasan’s The One Thing. In the number one Wall Street Journal bestseller, Gary Keller has identified that behind every successful person is their ONE Thing. No matter how success is measured, personal or professional, only the ability to dismiss distractions and concentrate on your ONE Thing stands between you and your goals. The ONE Thing is about getting extraordinary results in every situation.
Why Tesla ?
Tesla CEO Elon Musk, in 2008 made the decision of his life by going all-in in his dreams, Tesla and SpaceX. Elon Musk is today worth about $31.5 Billion, while Tesla is worth over $90 Billion.
“I could either pick SpaceX or Tesla or split the money I had left between them. That was a tough decision. If I split the money, maybe both of them would die. If I gave the money to just one company, the probability of it surviving was greater, but then it would mean certain death for the other company. I debated that over and over.” – Elon Musk.
Bill Gate of Microsoft (Worth about $103 Billion), Jeff Bezos of Amazon (Worth about $110 Billion), Late Colonel Harland David Sanders of KFC, all did something similar during their time. They went all-in on their dreams by focusing on the most important one thing.
KFC founder Colonel Harland Sanders, an entrepreneur who began selling fried chicken from his roadside restaurant in Corbin, Kentucky, during the Great Depression. Sanders identified the potential of the restaurant franchising concept, and the first “Kentucky Fried Chicken” franchise opened in Utah in 1952.
Start here to learn more about Tesla. Experts advice to buy portion by portion as we go through this tough times.
“there is always a light at the end of the tunnel”.Ada Adams