I'll date myself with this response, but one of the legendary investors of the last several decades was Peter Lynch who ran Fidelity Magellan Fund years ago. He said publicly that many of his best and most profitable investment ideas came from watching where his daughters shopped.
That was a while ago, but if you're shopping for what's popular, how many other folks are doing the same thing? And, are the stores crowded?
No. It is a good idea to buy good stocks of good companies. If you happen to know a lot about the company, all the better. But buying stock in a poor company or one that is currently overpriced, simply because you are familiar with them, makes no economic sense.
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