President Donald Trump has long touted a personal “golden rule” for investing: Do what you love and know, rather than just chasing money. He wrote in his 1987 best seller “Trump: The Art of the Deal“: “I don’t do it for the money. … I do it to do it. Deals are my art form.”​

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What Trump is basically saying is that not solely going after profit leads to more success than solely searching for investments that will make money. This article breaks down how passion, knowledge and risk management come together in Trump’s philosophy — and how you can employ this golden rule in your portfolio and minimize risk in the process like a pro.

The reason behind Trump’s success in real estate is his profound knowledge of the industry. He insists he loves it and has repeatedly illustrated how knowledge and passion can yield extraordinary results. A case in point is his 1986 renovation of the Wollman Rink in Chicago, which he completed ahead of schedule and under budget, according to the Chicago Tribune.

“Investing in areas where you have both knowledge and passion dramatically reduces unforeseen risks,” said Ben Loughery, CFP, CRPC, lead financial planner at Lock Wealth Management LLC.

By sticking to ventures he understands deeply — such as real estate and media — Trump gains an edge in decision-making and risk assessment. He has often stressed that loving the work brings out his best performance and ultimately drives superior results. This commitment to passion over pure profit motive has been a cornerstone of his success over the decades.

For everyday investors, it reinforces the idea that genuine interest in an investment can be as important as potential returns.

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Trump’s golden rule can be applied by investors by managing their portfolios according to their areas of expertise and passions. This starts with self-assessment.

Loughery said, “Investors should ask before pursuing a passion project: Does this investment have strong financial fundamentals? How does it align with my long-term goals? What are the potential risks and downsides?”

Answering these questions honestly can help investors know whether or not the venture is financially and personally fulfilling.

For example, a real estate professional should focus on the various types of investments in real estate rather than trying to time the stock market. Similarly, an angel investor of startups would be a better fit for tech entrepreneurs than being an oil futures buyer. By staying in your circle of interest and competence, you can reduce the risk while having a greater chance of making strategic decisions.