Justin Donald argues for diversifying income sources and chasing modest, reliable returns instead of high-risk bets. Avoiding loss matters more than hitting big IRR targets. Lose money once and you'll work twice as hard to get it back.
When I say diversification as well, like I even mean diversification of income streams. Like where are you dependent on all of your money from one business, one opportunity, one real estate play? Like I want as many as I can get. And then I want to not swing for the fences. I want to hit just singles and doubles. I don't need any home runs. Home runs kind of create, in my opinion, really bad due diligence. There's this emotional component of like cashing the check before it actually arrives. I don't need that. I'm just, My mission is don't lose money, right? Like, can I get a good return and not lose money and protect against losing? I don't need a 20, 30, 40% IRR. If I get it, great. But I just want to make sure if things go wrong, I'm at least getting my money back because that right there is where you lose the most. If you lose money, you got to work twice as hard to get it back.
