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Strategies & Market Trends : Value Investing
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To: Paul Senior who wrote (3659)3/26/1998 8:23:00 PM
From: Michael Burry  Read Replies (2) of 78666
 
Note Mike's
portfolio. No stocks reported bot prior to '98. (No time diversification.)

Not true. SJP, HYDEA, DSWLF, and TBR all bought in 1997, just
benchmarked to Dec 31st.

10-12 positions way too risky
I don't see it that way. Non-market risk is about 90% eliminated
at that level, and it takes orders of magnitude greater numbers
to move up to the high 90's. Is there statistical justification
for the higher numbers, or just personal preference? I know
I could not hold 50-100 companies and know them all.

Mike
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