From Guest Blogger Elisa Spain
What does it mean to diversify your ego? Does that even make sense?
In the investment world, diversification is de rigueur. Anyone who works with an investment advisor has heard them talk about the benefits of holding a diversified portfolio. The reasons are pretty straightforward, asset classes typically move differently and when one class is underperforming, another is likely to outperform. The goal, therefore, of holding a diversified portfolio, is to achieve an overall positive return. And, even when a positive return isn’t feasible, e.g. in a significant downturn like we experienced in 2008, a diversified portfolio will still outperform a single asset class that experienced a significant loss, the S&P 500, in this example.
The concept of ego diversification is similar. If we are getting all of our identify, our ego satisfaction, from a single pursuit, what happens when something is not going well with that pursuit?
