Openfolio data shows that investors buy companies in sectors that dominate their region of America.
"It's not only buy what you know, but what you know is influenced by the people you know," says Hart Lambur, co-founder of Openfolio. Even if someone on the West Coast doesn't work in tech, there's a better chance they know a friend, peer or relative in tech than someone in another part of the country. That proximity matters with investing, says Lambur. They feel more comfortable and knowledgeable about those companies. It may not sound surprising that West Coast folks buy tech stocks more than anyone else. But all four regions of the country -- North, South, East and West -- are aligned to the industries concentrated there.