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RE: Investment Diversification? "Diversification is for idiots!"
Its a combination of diversifying within one asset class, or diversifying simply for the sake of being diversified (many times this leads people to invest in things they don't understand... WB loves sticking to things he understands), or diversifying businesses outside your skillset... which divides your focus and could lead to under-performance. I don't think they think diversification is bad across the board, but it requires a solid strategy and methodology.