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Re: [php-49] Contractors and Business owners, investing for the future.

From: user 7.
Sent on: Tuesday, May 7, 2013 12:42 PM
In general I highly recommend reading some of the work of Nassim Taleb.  I have read Black Swan and am about halfway through Antifragile and they both have some very clear and reasonable discussions on long term thinking/planning/investing which would be beneficial for anyone trying to plan for the future - financial or otherwise.

In the specific, if you are going to invest a portion of your money, I highly recommend you do so personally and not through a big conglomerate or service.  Taleb suggests and it seems reasonable to me to invest mostly in very stable reliable businesses and to invest a small amount in riskier areas.  

If I were you just long enough to have to tackle this decision, I would invest in private (as opposed to publicly traded) businesses for which I felt extremely confident in the capabilities of the owners.  I would stick to businesses I could understand the basics of because of my background or because they are straight forward and I could learn the basics easily like restaurants, retail, etc. - the kind of businesses which have been making economies run for thousands of years and whose rights and wrongs are thoroughly documented.   I would invest in as many of these businesses as I could (to spread around the risk and potential returns) and with a ratio of low risk stable to high risk high potential reward between 80:20% and 90:10%.

That's my 2 cents.


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