If you are a 'know something' investor who can think about stocks as businesses and do intrinsic value work, broad diversification makes no sense and you shouldn't do it; if you are a 'know nothing' investor, you should have a broadly diversified portfolio or just own an index fund.
normativepending
Speaker
Robert HagstromEvidence Quote
“if you're a no something investor who can think about stocks as businesses do intrinsic value work”
Source
Warren Buffett Published His Whole Playbook | Robert Hagstrom on Why Only One Tenth of 1% Uses It— Excess ReturnsCreated: 8/12/2026, 6:12:15 PM
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