When it comes to investing, almost everyone wants to snag the next big winner. Stories abound of investors getting in early and benefiting from explosive growth, sometimes building their fortunes on a single win alone. However, for every story of triumph, there are dozens, if not hundreds, of cautionary tales of investors who placed big bets only to see them crumble.
"While the upside of concentrated positions can be enticing, many of the most successful investors believe the risk is too high," says Erin Scannell, a private wealth adviser at Ameriprise Financial.
