I came across this Wall St. Journal article about local investing.
The Payoffs of Investing Locally It can be worth it both financially and personally, but there are risks.
To paraphrase the article:
- Local investing is done to make you feel good.
- Local investing is risky.
- Local investing gives poor returns.
- Local investing is akin to supporting local charity.
The article sucks.
I invest locally to:
- Reduce my systemic risk.
- Invest in things I can actually keep my eye on.
- Invest in companies in which I can meet the main stakeholders and evaluate them.
- Make lots of $$$$ and High %%%% !!!!!
Then I realized that this article comes from the 'belly of the beast' so to speak, Wall St.
Their interest is that you keep shoveling money into the mutual funds that advertise in their pages.
Critical thinking should always be top of mind when considering anything you read. Even this post.
Enjoy and have a great weekend.