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Strategies & Market Trends : Gorilla and King Portfolio Candidates -- Ignore unavailable to you. Want to Upgrade?


To: Uncle Frank who wrote (16113)1/23/2000 10:11:00 PM
From: Greg Hull  Read Replies (1) | Respond to of 54805
 
>> "You only have to get rich once. Why do very bright people risk losing something that's very important to them to gain something that's totally unimportant"

You are learned and wise, LL. Many thanks for contributing Mr. Buffett's quote. I think it sums up the case for diversification once you hit your personal Fat Lady Index.

Didn't Richard Rainwater say something along the lines of: diversification is a good strategy to stay rich but a poor one to become rich?

I read it several years ago but do not remember where. Maybe someone else here can give the quote verbatim. I have a poor memory for exact quotes - lossy compression algorithm - but I have thought about the idea many times and I agree with his sentiments. I'll have to try it once I become rich.

Greg



To: Uncle Frank who wrote (16113)1/23/2000 10:26:00 PM
From: Brent Hogenson  Respond to of 54805
 
<<<Many thanks for contributing Mr. Buffett's quote. I think it sums up the case for diversification>>>

One of my favorite quotes from Warren Buffet:

"Diversification is a hedge against ignorance."

Greg -

I remember reading Richard Rainwater once said "you have to make large concentrated bets to become very wealthy." I believe he is a big fan of oil stocks right now.