This is ‘change my mind’ type.
Here is what Charlie and Warren said about diversification.
**Warren Buffett**
“Diversification is protection against ignorance. It makes little sense if you know what you are doing.”
“If you can identify six wonderful businesses, that is all the diversification you need.”
“If you are a know-something investor… conventional diversification makes no sense for you.”
**Charlie Munger**
“The idea of excessive diversification is madness.”
“Diversification is for those who don’t know anything.”
“A lot of people think that if they have a hundred stocks… I regard this as insanity.”
What do you think? I feel like a lot of us follow feds meeting, listen to world economy forum, follow cpi, monthly job reports, monetary policies.
We are not the regular average folks.
Thought?