Earning a high income doesn’t automatically translate into high net worth. In some cases, high earners simply spend more and end up with fewer assets than more moderate earners. This problem can be especially true of physicians, which often targets of unsavory financial professionals. Are you a medical resident or physician? Then you could benefit from reading The White Coat Investor by James M. Dahle, MD. Check out my review here.
Over the past few weeks, I’ve been updating my portfolio. The good news is that I locked in a gain with NVDA by selling 100 of my shares for $212 per share, which I had bought at an average price of $25 about two years ago. The bad news is that I lost money on other investments. To follow Warren Buffett’s rule of investing (“don’t lose money”), you’ll need to determine what not to buy. Honed from my experience, here’s a short list.