Putting all your eggs in one basket isn’t usually a good idea.
That’s what your financial advisor will tell you.
But what they won’t tell you is that the wealthy don’t follow this advice as often. Some disregard it entirely.
Case in point:
We just watched an ultra-wealthy entrepreneur dump 11% of his net worth into one of his companies…
Some background on his buying history:
Back in October 2021, this company had solid earnings. The founder dropped a gigantic sum of money into the company and rode the wave upwards.
When the stock then dipped shortly after, he scooped up tens of millions more, right before another run upwards.
Here’s where it gets fun.
You see, once Powell admitted inflation wasn’t transitory, implying that rate hikes were coming, tech took a huge hit.
The stock in question lost nearly 30% of its value…
But earnings were around the corner…
And that’s when the insider dropped $25 million into his stock!
But the price continued downwards.
That didn’t stop this insider — he scooped up $267 million more in just a few weeks!
While most financial advisors constantly reiterate the importance of “diversification.”
This guy dumped 11% of his net worth into his company.
There’s only one reason why he might do that…
So we just added this name to our IE portfolio.
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