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Risk comes from not knowing what you are doing so wide diversification is only required when investors are ignorant. You only have to do a very few things in your life so long as you don't do too many things wrong.

Warren Buffett

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Warren Buffett
Age: 94
Born: 1930
Born: August 30
Entrepreneur
Financier
Investor
Shareholder
Omaha
Nebraska
Warren Edward Buffett
Life
Wide
Risk
Knowing
Diversification
Wrong
Buffets
Comes
Investors
Many
Required
Long
Investing
Things
Ignorant

More quotes by Warren Buffett

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People should always know better.
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While the poor and middle class fight for us in Afghanistan, and while most Americans struggle to make ends meet, we mega-rich continue to get our extraordinary tax breaks.
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You only have to do a very few things right in your life so long as you don't do too many things wrong.
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If you buy things you do not need, soon you will have to sell things you need.
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I am not worried about the country. I'm just worried about anything that gums up the potential of the country. And right now, it's pretty gummed up.
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Stocks are the only thing that people are happy to buy when the price goes up.
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I read annual reports of the company I'm looking at and I read the annual reports of the competitors - that is the main source of material.
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Cultivate curiosity and strive to become a little wiser every day.
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If this is a war, my side has the nuclear bomb. We have K Street. We have Wall Street. Debbie doesn't have anybody. I want a government that is responsive to the people who got the short straw in life.
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Investing is simple, but not easy.
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The only way to be loved is to be loveable, which really irritates me.
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I’ve worked in an economy that rewards someone who saves the lives of others on a battlefield with a medal, rewards a great teacher with thank-you notes from parents, but rewards those who can detect the mispricing of securities with sums reaching into the billions.
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I never try to predict the market.
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I mean there is no capital requirements to it or anything of the sort. And basically, I said there were possibly financial weapons of mass destruction, and they had them. They destroyed AIG. They certainly contributed to the destruction of Bear Sterns and Lehman. Although Lehman had other problems, too.
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Derivatives are financial weapons of mass destruction.
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We enjoy the process far more than the proceeds.
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The stockmarket is a semi-psychotic creature given to extremes of elation and despair.
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I think that trying to invest through 535 people is a tough job, you know, and so I would give more latitude.
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Knowing the edge of your competency is important. If you think you know more than you do, you will get in trouble.
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If you don’t feel comfortable making a rough estimate of the asset’s future earnings, just forget it and move on. No one has the ability to evaluate every investment possibility. But omniscience isn’t necessary you only need to understand the actions you undertake.
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