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Diversify: Bill Harris on Facebook’s New Millionaires

Lately, we’ve been taking a look at what the soon-to-be newly rich employes of Facebook should do with their money after Facebook’s IPO. Our advice: Diversify:

The high-flying, attention-grabbing nature of technology IPOs can make them dangerous to participating employees. The main reason is they create instant wealth concentrated entirely in a single position. Granted, there will be many investment-savvy Facebook employees who know how to properly diversify. But most are experts in tech, media, and marketing, not finance. They invest in what they know, and what they know is their own company.

Personal Capital CEO Bill Harris spoke with with Jon Erlichman on Bloomberg Television’s “Bloomberg West” on Friday, and continued to preach the gospel of diversification.

See the video below, and read the whole article on BusinessWeek.

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