@asemota Fortunes are made in concentration and maintained in diversification
I forgot where I heard this but it always stuck with me.
Or Diversification is a hedge against ignorance
“Billionaires concentrate but millionaires diversify.” a popular investment aphorism on Twitter.
There is the argument that a lot of what we think is common to billionaires is based on survivor bias and that is likely true.
My dad had this rich flamboyant friend (Uncle Pius) and his nickname to his friends was “Pemperempe.”
He was always the one buying drinks for his friends each night and my mother sold the drinks as a side business. We made money from his generosity.
One day, the Police came.