Portfolio Management - Diversification Is Your Friend
Not only you need to manage your portfolio to diversify your stocks across sectors, you also need to diversify your family portfolio as part of risk management.
It is common that when a family has one or two savvy investors who know how to find good deals and the rest of family members just follow and all jump in e.g. husband buy and his wife follow, then his father and mother jump in too and soon their children Chinese New Year Ang Pow money also find its way into the same stock.
If unfortunately something really bad happen to the stock, the whole family suffers.
Stop thinking in terms - your money and my money.
Practise family financial risk management.
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