Way too many investors are looking for the ultimate stock “pick” to get rich quick. Tune into CNBC any day of the week and they’ll have plenty of pundits offering you their “picks.”
It’s a great way to lose your hard-earned money—fast.
As Hedgeye CEO Keith McCullough recently explained to a subscriber in the clip above from “The Macro Show,” there’s a much smarter (and less volatile) investing approach to build out your portfolio and build your wealth over time.
“Some people who ask that question sometimes don’t have a large sum to invest and really need to rely on…making an over-indexed position on one pick. That’s a real big mistake that individuals make,” McCullough explains.
“Historically, people who don’t have a portfolio say they don’t have enough money for that because they’ll incur all these commissions. Now it’s free. You can have 30 positions and spend a dollar on each position. Now you can have the right portfolio rather than just pick one thing.”
Watch the full clip above for more.