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Unless such financial advisor is Warren Buffet, who said "Diversification is protection against ignorance. It makes little sense if you know what you are doing.
by antaviana 9y ago
Unless such financial advisor is Warren Buffet, who said "Diversification is protection against ignorance. It makes little sense if you know what you are doing."
- justinhj 9y agoEverybody has ignorance to some extent in the market that is driven not just by carefully calculated fundamentals but also natural disasters, market changes, popularity and many other essentially random factors.
- ben_w 9y agoThe trouble is, there are plenty of people who don't know what they're doing and are unaware of it. Your financial advisor probably doesn't have the experience of the second richest man on the planet.
- gertef 9y agoWarren Buffett's net worth is spread across many more than 1 equity. (Yes, his wealth is in a single holding company, but that company owns a diverse array of businesses.) It's also interesting that no one provides a source for that supposed attribution.
- austenallred 9y agoIt is now, but it wasn't when he was younger. There aren't many companies in the world he could have 100% of his net worth in at this point.