Concentrated versus Diversified Portfolios
How many positions to hold, and what diversification actually buys you.
8 books · 15 people behind it
Start here
- Charlie Munger: The Complete InvestorTren Griffin, 2015
- Concentrated InvestingAllen C. Benello, Michael van Biema, Tobias E. Carlisle, 2016
- The Intelligent Asset AllocatorWilliam J. Bernstein, 2000
The people behind it 15
Each person holds a book in this entry or names it in their own tags.
Investors 11
RG
Robert G. Hagstrom1 book hereWJ
William J. Bernstein1 book hereAI
Antti Ilmanennamed in their tagsBM
Bill Millernamed in their tagsLL
Li Lunamed in their tagsMP
Mohnish Pabrainamed in their tagsNS
Nick Sleepnamed in their tagsBN
Bill Nygrennamed in their tagsEW
Ed Wachenheimnamed in their tagsNT
Nick Trainnamed in their tags
William Ackmannamed in their tagsAcademics 1
Strategists 1
Journalists 2
Books 8
Philip A. Fisher · 1958 · Fisher's argument that over-diversification is a confession of ignorance.
Charles T. Munger · 2005 · Munger's case for very few bets, made very deliberately.
Andrew WilkinsonCharlie MungerChristopher BloomstranFrancois RochonGuy SpierLi LuMichael MauboussinMohnish PabraiWarren BuffettBill GatesDaniel EkDrew HoustonEric JorgensonJosh WolfeMarc AndreessenMatt MullenwegMichael BatkoNathan MurphyNaval RavikantNiki ScevakPatrick CollisonRamit SethiRyan PetersonSam AltmanShane ParrishTerrance McArthurThe Barefoot InvestorTim Ferriss
William J. Bernstein · 2000 · The other side: diversification as the only free lunch.
William Poundstone · 2005 · Why maximum concentration is not the same as maximum growth.
Robert G. Hagstrom · 1999 · Focus investing argued from probability and portfolio mathematics.
Tren Griffin · 2015 · Systematises the concentrated, checklist-driven version of the approach.
Allen C. Benello, Michael van Biema, Tobias E. Carlisle · 2016 · Case studies of managers who ran very few positions and why it worked.
Peter Seilern · 2019 · Ten quality criteria that leave a portfolio of roughly twenty names.