The main risk you might be referring to is what I call "Pioneering" it's the pioneers that sometimes have arrows in their back lying dead on the ground.  

The last time I checked, stocks have no collateral. #3 – diversification How many of us simply sign up for our employer’s 401(k) plan, invest in stocks and bonds that we don’t know much about, and hope for appreciation.

So I'd like to suggest a few books: "It's a whole new business" by Gene Trowbridge and "The hands-off investor" by Brian Burke.I also would like to share a few articles with you: https://www.biggerpockets.com/member-blogs/10850/86626-the-pros-and-cons-of-investing-via-real-estate-syndicationhttps://www.biggerpockets.com/member-blogs/10850/87614-interpreting-the-private-placement-memorandum-ppmhttps://www.biggerpockets.com/member-blogs/10850/84063-private-equity-meets-stock-market

What the co op “owner” does possess is shares of stock representing percentage ownership in the cooperative corporation that owns the property, and a priority lease on their unit.

Great insight, and wonderful anecdotal evidence regarding your friends.I recently got the listing for the Brooklyn Bridge, since NYC is basically dead, I can sell it to you for a 50% discount.

Diversification in investing, whether in stocks, bonds, real estate, businesses...helps to spread out your risk over multiple assets. 

NUA allows you to defer tax when you sell the the stock, and the grow of the ESOP would be taxed as capital gain.After termination, ESOP allows for the distribution that within 5 years. 

Auction property plus owner occupied in TX is dead for hard money not matter what term or interest rate.$10k DOWN isn't much for $120k purchase  plus Michigan equity so you still short about $62,000 for $120,00 purchase loan .

Besides picking the winning lottery numbers, shorting all the stocks and just happening across this legendary idea of electric cars and going to mars.. what would you differently in your early 20s finically, business, and personal development?

Say an investor made a killing in the stock market.