This YouTube monologue (Tim Ferriss, featured in a video uploaded by David Jenyns) shares Tim Ferriss’s investment philosophy: he invests only in things he understands and uses; stepping outside that circle has led to losses. He advises entrepreneurs to 'scratch your own itch' and prefers investing in founders who do the same, arguing it increases the probability of success.
I only invest in things that I understand and things that I use or would use myself. This is really, really, really important. Anytime I step outside of that is usually when the universe kicks me in the nuts really hard and I lose my money. I think it's critical. As an entrepreneur, scratch your own itch. It increases the odds of success or the probability of success. And as an investor, I look for people who are scratching their own itch.
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