My biggest mistake trading!

When I started trading 4 years ago, I used to listen to what a lot of wealthy people would buy. I was very influenced by one of my friend's father as he is a very wealthy man with a $15M+ house. I bought his top pick and lost 80% of my portfolio.-40k
What I am saying is for everyone to not be a sheep. When you buy stocks, understand what you are buying and don't just follow wealthy people. No one here is capable of getting it 100% right. Just because someone is wealthy doesn't mean they can keep replicating their success.
That mistake cost me 40k but in the long run, made me a lot more as I learnt to do my own research and not be a sheep. We are experiencing levels of insanity here, and I don't want people to forget that due diligence is a thing.

Thank you! I wish you the best of luck!
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