Business Focus With Constrained Resources

[Bryan Hancock]

On a separate thread today there is a debate about flipping versus buy-and-hold. The point was made that one should focus their investment strategy and that diversion from focus is a sign of an amateur. Others disagreed as did I.

With limited resources one is forced to do "non-optimal" activities to accumulate capital to do what one does best. The alternative is to invest in someone else's enterprise and let them take all of the upside that is skill-based. To me this represents an opportunity cost larger than investing in a manner that is "non optimal" or different from one's singular set of expertise.

Do you agree? Disagree? What is your experience with investing your time on activities that are profitable, but perhaps you don't consider yourself an expert at? How would you get to be an expert if you didn't practice with your own funds?