On the Road to Your First Million, Dodge This Deadly Detour

We’ve all heard the investing maxim about the importance of diversification – “Don’t put all your eggs in one basket.”

I subscribe to a very different viewpoint – one first espoused by industrialist Andrew Carnegie, a man whose $310 billion fortune (in current dollars) ranks him as the fourth-richest person of all time.

Speaking at Curry Commercial College of Pittsburgh back in 1885, the billionaire steel magnate said diversification was a mistake.

Anyone telling you ” ‘Don’t put all your eggs in one basket’ is wrong,” Carnegie told students. “I tell you to put all your eggs in one basket – and then watch that basket.”

The capitalist titled his talk: “The Road to Success.”

But he could just as easily have called it “The Road to the Millionaire’s Club.”

Because Carnegie was right – as right as could be.

For the 10-Minute Millionaire, diversification is nothing but a wasteful side trip – a wealth-delaying detour.

Fact is, if you’re looking to make a real impact – at work, at school and especially with your money – you have to be focused. You have to be opportunistic. You have to pounce on the few openings that will give you the biggest bang.

You don’t want to “diversify.” You don’t want to take your scarce resources – be it time, energy or cash – and piecemeal them out among dozens of dozens of baskets. That will only water down your results- adding years, or even decades, to the time it takes to hit your goal.

This “less-is-more” mindset is the essence of the 10-Minute Millionaire approach.

That’s why we believe anyone can turn a small pile of money (as little as $2,500, in fact) into a big pile of money in a few short years by stringing together a series of winning trades.

But because we are starting with a small pile of money – and we’re concentrating that capital in a small number of the best “baskets” – it’s crucial that we avoid ruinous losses.

And we do that by carefully watching those baskets.

That’s why “risk management” – with our seed money and with each trade we make – is such a key piece of the 10-Minute Millionaire system.

Today I’m going to share my best “basket-watching” secrets.

And we’ll use our recent uranium play to show you just how to put them to use.

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