The Game with Alex Hormozi What Crypto and Real Estate Taught Me About Investing | Ep 710
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May 13, 2024 Dive into the world of investing with tales of crypto chaos and real estate misadventures! Learn about the costly lessons that come from FOMO and the importance of sticking to what you know. Discover how financial setbacks can teach you about due diligence and caution. With a focus on leveraging personal expertise, this journey emphasizes the value of patience and self-awareness in investment strategies. Get ready for insights that could reshape your approach to wealth creation!
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Crypto Loss
- Alex Hormozi lost $500,000 in crypto after investing with a friend during the 2020 craze.
- This experience reminded him of the importance of sticking to his core competencies in business.
Sphere of Competence
- Focus on your core competencies to maximize profits.
- Venturing outside this sphere often leads to financial losses.
Wealth Creation vs. Investing
- If you are skilled at creating wealth, focus on that primarily.
- Avoid excessive dabbling in investments outside your expertise.