Why Buffett, Cuban and Munger all HATE Diversification : World's Greatest Investors

Warren Buffett, Mark Cuban, and Charlie Munger all believe that diversification is a protection against ignorance and if you know what you're doing, it isn't necessary. Here they explain in detail why!

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[AlexanderCrossman]

Concentration builds wealth, diversification preserves wealth. If you diversify with no money, you are simply preserving nothing.

[Riggsnic_co]

Didn't Charlie Munger and Warren Buffett invent the strategy of buying/investing when the market is low and also buying/investing when the market is high? As Warren Buffet said, he has seen this happen many times in his life. Not an investor. My wife and i never earned more than a middle class salary. We plan to get retired at 58 with a stock portfolio worth $4M. We have never sold so much as one share of stock...

[shaolinotter]

"It's a confession that you don't really understand the businesses you own"

That is correct and I accept that

[rolandolaserie]

Thats what i've been saying, why get married when you can diversify.

[connert]

moral of the story isn’t diversification. it’s knowing a business and being extremely confident about its outcomes.

[blueshattrick]

"Diversification sucks!" says multi-billionaire with countless investments and revenue streams.

[Kimchi]

They are saying diversifying just cause of the sake of diversification is for idiots.

[giannisantoniadis]

Guys guys chill..this is the RULE: You don't diversify to be Rich, you diversify to stay Rich.

In order a middle class person to build great wealth you need to go all into 1-2 things and once you build your first few million then you can diversify!

[sandeepvk]

I will still diversify because i am not so smart as Warren / Charlie

[motivationfactory]

Mark Cuban: “Diversification is for idiots”

Also Mark Cuban: Invests in hundreds of small businesses through Shark Tank

[mikeyruiz]

Diversification is a protection against ignorance - Warren Buffett

[Elfaia]

This is like an average dude asking a good looking guy what's his secret to getting chicks and he answers with, "Confidence my friend."

[lealChuckNorris]

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Who is the most right?

[DJ-jltn]

Key: for people who don't understand the companies they own

[hkspwvb]

“Diversification is a protection against ignorance.”

[KidMillions]

Phil Carret, Buffett's hero, did advise diversification. “Always stay fully invested. Keep your portfolio well diversified. I used to have 400 to 500 different securities in the Pioneer Fund.”

[asterisk]

Most people DON'T diversify: they get most of their income from their job, and if they have a positive net worth, most of it is tied up in the house in which they live.

[thelifeofpaladin]

"Diversification is protection against ignorance"- Warren Buffett

[triquepersonalwork]

In Ecclesiastes, it says “put your wealth in different places because you, o man do not know where disaster will strike”. I believe that and have become rich off diversification

[petertep]

Diversification is to stay rich.

You need concentration of capital to acquire life changing money