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The Game w/ Alex Hormozi
What Crypto and Real Estate Taught Me About Investing | Ep 710
May 13, 2024
16:33
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Experienced investor Alex Hormozi discusses cryptocurrency and real estate investments, emphasizing the importance of operating within your sphere of competence. He shares insights on financial losses, due diligence, skepticism towards enticing deals, and leveraging personal expertise in investment strategies for wealth creation and preservation.
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Quick takeaways
- Avoid FOMO in investments by staying in your sphere of competence.
- Thorough research, due diligence, and collaboration with experts mitigate risks in investments.
Deep dives
The Dangers of FOMO in Investment Decisions
The speaker recalls a significant experience in the crypto market, where FOMO led to impulsive investment decisions resulting in substantial losses. Despite feeling the urge to invest based on others' success stories, rushing into unfamiliar territory led to a half-million-dollar loss. This emphasizes the importance of staying within one's sphere of competence and not succumbing to FOMO-induced investments.
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Discover
highlights
Listen to the best highlights from the podcasts you love and dive into the full episode