Mailbag: Don’t Take This Wall Street Investing Maxim as Gospel

Q: This sounds silly, but I just don’t know how you invest in what you know while still exploring new sectors?
A: Investing in what you know is a sound piece of advice as long as you don’t take it too seriously. I’m speaking from my own experience. For a long time, I treated it as gospel. Investing is hard and risky. Surely the more you know, the better your chance of picking a winner?
It’s a convincing argument. If you’ve lived in New York City your entire life and you like making real estate investments, are you better off investing in …read more