Chris,
Just to throw in a few words of encouragement. I feel very much the way you do. I find I do best when I make only a small number of decisions. Another quote from Buffett, "If you can make 10 good decisions in your life, you can afford to give away 5." I don't know about the specific companies you have invested in, but I invest totally in just a few stocks that I have researched thoroughly. I find it is much more efficient use of my time. Is this more risky than buying several stocks? Those who show that risk can reduced through diversification should also show that rewards can reduced. I have infinitely more confidence that I can make one right purchase than ten. In calculating the long term return from companies, Buffett uses the long term government bond and doesn't adjust for risk. Why? Because, as he says, he reduces his risk substantially by selecting good companies. Diversification is what you do when you don't know what you are doing <g>!
Anyway, I lurk here, I don't spend a lot of time posting because it takes too much time. I'm not criticizing Paul Sr. he makes a great contribution here, I just thought I'd add my $0.02 to balance things out a bit.
Good investing to all, no matter what your style.
Stuart. |
