I recently got into investing on my own. There are a few investors who approach the market like the smoke-filled sports book or the racetrack. They put a few dollars down on a long shot based on nothing more than a tip from the guy who cleans the bathrooms or the social butterfly dominating the coffee machine. Usually, this strategy fails.
Tonight Ole Miss is squaring off against Kentucky, where as of this article are down by 16 and have a whopping four points with nearly 13 minutes gone in the game. They are currently oh for eight from three point range; a gambler's shooting range.
Providence and Indiana mined the gambler's range well in 1987 when the three was a shiny new toy and teams were still trying to figure out how to defend it, and it should be a part of every team's arsenal.
But too much reliance on the three without an inside game is like stocking your portfolio with just mutual funds or stocks. It may play for a while but eventually your returns will diminish like the value of a dollar in today's economy.
Of course, the Rebs have a beast in Dwayne Curtis who is averaging nearly a double-double, so it's not like every member of the team is chucking up pop-a-shots.
So using tonight as an example, why not throw it to the kid? Sure, UK's defense has improved immensely since their sorry non-conference slate and they boast a potential national freshman of the year who roams the paint in Patrick Patterson. But you can't lack confidence this time of year when dancing invitations are bestowed on those who make their own luck.
So go to the beast. Penetrate. Kick outside if it's clogged. Diversify. Well-rounded basketball and portfolios equals successful runs.