The Game with Alex Hormozi
What Crypto and Real Estate Taught Me About Investing | Ep 710
May 13, 2024
Experienced investor Alex shares insights on crypto and real estate, emphasizing sticking to your sphere of competence. Discusses big losses, importance of due diligence, and benefits of leveraging personal expertise in investment strategies for wealth creation.
17:29
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Quick takeaways
- Staying within your sphere of competence is crucial in investments to avoid financial losses.
- Avoid giving in to FOMO and prioritize partnerships with experienced individuals to mitigate risks.
Deep dives
Importance of Staying Within Your Sphere of Competence
Staying within your sphere of competence is crucial when making investment decisions. The podcast highlights the importance of focusing on areas where you have expertise and experience, such as business, marketing, sales, and acquisition. Venturing into unfamiliar territory, like crypto or real estate, without the necessary knowledge can lead to significant financial losses.
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