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Podcast: My Worst Investment Ever Podcast
Episode: Gil Baumgarten – Concentrate to Get Wealth but Diversify to Keep It
Description: BIO: Gil Baumgarten is a 36-year veteran of the investment industry. In 2010, Gil made a break from the brokerage world to start Segment, a fully fiduciary firm where the interests of the client and the firm could align.STORY: Gil invested heavily in UBS shares, and when the 2008 financial crisis hit, the stock lost its value and knocked about 80% of the market value of his stocks.LEARNING: Concentration is the key to getting wealthy. Diversification is the key to keeping your wealth. Don’t be too diversified or overly concentrated. “Wealth is the s...