Wide diversification is only required when investors do not understand what they are doing.
More Quotes from Warren Buffett:
Risk is a part of God's game, alike for men and nations.Warren Buffett
When you combine ignorance and leverage, you get some pretty interesting results.
Warren Buffett
I recently sold a house in Laguna for 3.5 million. It was on about 2,000 square feet of land, maybe a twentieth of an acre, and the house might cost about 500,000 if you wanted to replace it. So the land sold for something like 60 million an acre.
Warren Buffett
We enjoy the process far more than the proceeds.
Warren Buffett
It's never paid to bet against America. We come through things, but its not always a smooth ride.
Warren Buffett
Should you find yourself in a chronically leaking boat, energy devoted to changing vessels is likely to be more productive than energy devoted to patching leaks.
Warren Buffett
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