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Wide diversification is only required when investors do not understand what they are doing.

Warren Buffett

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Warren Buffett
Age: 94
Born: 1930
Born: August 30
Entrepreneur
Financier
Investor
Shareholder
Omaha
Nebraska
Warren Edward Buffett
Wide
Intelligent
Diversification
Buffets
Success
Investors
Understand
Required
Business
Investing
Diversity
Investment

More quotes by Warren Buffett

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That which is not worth doing at all is not worth doing well.
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My favorite time frame for holding a stock is forever.
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I always knew I was going to be rich. I don't think I ever doubted it for a minute.
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It's much easier to stay out of trouble now than to get out of trouble later.
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You're dealing with a lot of silly people in the marketplace it's like a great big casino and everyone else is boozing. If you can stick with Pepsi, you should be OK.
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Americans are in a cycle of fear which leads to people not wanting to spend and not wanting to make investments, and that leads to more fear. We'll break out of it. It takes time.
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I think confidence will come back.
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There are certain things that cannot be adequately explained to a virgin either by words or pictures.
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We're still in a recession. We're not gonna be out of it for a while, but we will get out.
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It's never paid to bet against America. We come through things, but its not always a smooth ride.
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You can't produce a baby in one month by getting nine women pregnant.
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When we really sit back with a smile on our face is when we run into a situation we can understand, where the facts are ascertainable and clear, and the course of action obvious.
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In a commodity business, it's very hard to be smarter than your dumbest competitor.
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Credit worthiness is like virginity, it can be preserved but not restored very easily, so it is crazy to play around with it.
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Accounting consequences do not influence our operating or capital-allocation decisions. When acquisition costs are similar, we much prefer to purchase $2 of earnings that is not reportable by us under standard accounting principles than to purchase $1 of earnings that is reportable.
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I just don't see anything available that gives any reasonable hope of delivering such a good year and I have no desire to grope around, hoping to 'get lucky' with other people's money. I am not attuned to this market environment, and I don't want to spoil a decent record by trying to play a game I don't understand just so I can go out a hero.
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There's no use running if you're on the wrong road.
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We really can say no in 10 seconds or so to 90%+ of all the things that come along simply because we have these filters.
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Equities will do well over time - you just have to avoid getting excited when other people are getting excited.
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I'm always interested in understanding the math of things and understanding as much as I can about all aspects of business. And what I learn today may be useful to me two years from now. That's really the wonderful thing about investments is your knowledge is cumulative.
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