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Market downturns, corporate scandals or industry shifts can quickly erode yourwealthif youre overexposed to just one company.
He pointed to companies like Tesla or Nvidia, where people got stockas much as 10 or 20 yearsago.
Theres a famous quote If it can make you rich, it can also make you poor.'
The market we know is constantly innovating and rewarding those companies that are coming up with new ideas.
Maybe your CEO becomes unpopular.
Theres just a lot of different risks out there that are hard to factor into any investment thesis.
So, innovation is very disruptive.
Say you had $1 million cash value.
Consider Taxes
Another important consideration is taxes, Cooper said.
A big, big mistake I see people make is they let the tax tail wag the investment dog.
So theyre making tax decisions on investment decisions.
Cooper continued, Hindsight is 20/20.
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