Short excerpt from a YouTube video (uploaded by David Jenyns) where Tony Robbins (speaker) emphasizes diversification in investing — warning that concentrating all assets in one class (real estate, stocks, bonds, collectibles) risks catastrophic losses (statistically 50–70% drops) and can ruin investors later in life.
No matter how good you are in business, think about this. The one universal rule that idiots in finance know is diversification. You gotta diversify. Because if you put all your eggs in one basket, no matter how good the basket is, one day, that real estate market, that stock market, that bond market, that collectibles market, whatever you invest in, Ray Daliotz showed me, Statistically, it'll drop 50 to 70% on a day. Now, if you're later in life, when that happens, it's over for you. So you have to diversify. And yet most people, they know real estate, so they do it. Or they know stocks, they do it. Or they grew up in parents flipping things, and it's the wrong thing to do. So you've got to diversify in order for you to be able to truly succeed.
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