I like what-if exercises. They require both reasoning and imagination. And even if the scenarios never actually happen, thinking about them can nonetheless help in the real world.

One example that has crossed my mind recently is what would I do if I could only invest $10,000 in one stock. It actually wasn't all that difficult to come up with an answer for this hypothetical question.

There are thousands of stocks that trade on U.S. stock exchanges or over the counter. I didn't look at every single one of them to find the best alternative. Instead, I first considered what I'd look for most in the one stock.

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Source Fool.com