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Eric Siu explains Warren Buffett and Mark Cuban's core investing principle: concentrate your money on what you know best and hold for the long term. The Rule One approach means betting on yourself, not chasing trends.
Eric Siu explains Warren Buffett and Mark Cuban's core investing principle: concentrate your money on what you know best and hold for the long term. The Rule One approach means betting on yourself, not chasing trends.
Warren Buffett has said, put all your eggs in one basket and watch it like a hawk. And then I think Mark Cuban said diversification's for idiots. There's this book called Rule One Investing, and the whole premise around it is like, rule number one, don't lose money. Rule number 2, look at rule number one, right? Don't hold more than like 10 stocks, maybe 15 max. You know what our main stock is? Our business. It's no different than that. I think if you guys can all think like that, it's going to help you make a lot more money. I don't care if you're a marketer, I don't care if you're working somewhere or whatever. If you can think long-term and you press hard when you have the advantage, it's not really a gamble at the end of the day. It's just a bet on yourself.
