Billionaire Mark Cuban has weighed in on how the typical person should probably invest their money: in a cheap S&P 500 index fund.
But what does the Cuban family do with its money?
Financial columnist Andrew Ross Sorkin asked Cuban just that at the 2017 New York Times DealBook conference.
"What do I invest in? Cash, treasuries, municipalities … stuff that I've had forever," said the star of ABC's "Shark Tank." Plus, "a lot of private companies because I try to really support entrepreneurs."
As for his largest holdings, "Amazon is now my biggest stock holding and Netflix is second," Cuban told Sorkin. "Just because of their growth. I've had them for a long time. I don't switch things around. I don't move it around a lot."
That makes sense, given that the golden rule of investing is to think long-term and leave your investments alone. As Warren Buffett says, "If you aren't willing to own a stock for ten years, don't even think about owning it for ten minutes."
What Cuban didn't mention are digital currencies like bitcoin and ethereum. While they may be absent from his portfolio, he has said it's OK to invest up to 10 percent of your savings in these types of high-risk investments. But if you do, Cuban said, be prepared to lose your money.
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