Diversification Quotes - Page 2

• In my 45-year career as an investment counselor, humility did show me the need for worldwide diversification to reduce risk. That career did help me to become more and more humble because statistics showed that when I advised a client to buy one stock to replace another, about one-third of the time the client would have done better to ignore my advice. In other endeavors, humility about how little I know has encouraged me to listen more carefully and more wisely.

  John Templeton

  Humble, Optimistic, Humility

  "Sir John Templeton: Mixing Science, Religion, and Humility" by T George Harris, sirjohntempleton.org. September 01, 2001.

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• Nothing's dangerous if you know what you're doing.

  Johnny Unitas

  Nfl, Buffets, Dangerous

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• We can no longer let the threat of an early frost send a chill of fear throughout a large portion of our workforce. Diversification is the only answer.

  Alan Autry

  Frost, Answers, Chill

  "Biography/ Personal Quotes". www.imdb.com.

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• Over-diversification is a hedge for ignorance.

  William O'Neil

  Ignorance

  Interview with Bill Mann, www.fool.com. June 20, 2002.

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• As a consequence, geneticists described evolution simply as a change in gene frequencies in populations, totally ignoring the fact that evolution consists of the two simultaneous but quite separate phenomena of adaptation and diversification.

  Ernst Mayr

  Two, Population, Ignoring Facts

  Ernst Mayr (1988). “Toward a New Philosophy of Biology: Observations of an Evolutionist”, Harvard University Press

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• The strategy we've adopted precludes our following standard diversification dogma. Many pundits would therefore say the strategy must be riskier than that employed by more conventional investors. We disagree. We believe that a policy of portfolio concentration may well decrease risk if it raises, as it should, both the intensity with which an investor thinks about a business and the comfort-level he must feel with its economic characteristics before buying into it.

  Warren Buffett

  Business, Believe, Thinking

  Chairman's Letter, www.berkshirehathaway.com. March 1, 1994.

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• The development of our human resources is an area in which we need to do well as it is decisive in determining the success of our diversification programme.

  Hassanal Bolkiah

  Needs, Development, Resources

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• The starting point for energy security today as it has always been is diversification of supplies and sources.

  Daniel Yergin

  Energy, Today, Starting

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• The diversification of the people's demand could not be followed by the state apparatus.

  Anatoly Chubais

  People, Demand, States

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• The best argument for mutual funds is that they offer safety and diversification. But they don't necessarily offer safety and diversification.

  Ron Chernow

  Safety, Workplace, Argument

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• I don't think that a mutual fund that invests exclusively in biotech start-ups or invests exclusively in companies in Thailand offers any great safety or diversification.

  Ron Chernow

  Thinking, Safety, Thailand

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• We try to exert a Ted Williams kind of discipline. In his book The Science of Hitting, Ted explains that he carved the strike zone into 77 cells, each the size of a baseball. Swinging only at balls in his "best" cell, he knew, would allow him to bat .400; reaching for balls in his "worst" spot, the low outside corner of the strike zone, would reduce him to .230. In other words, waiting for the fat pitch would mean a trip to the Hall of Fame; swinging indiscriminately would mean a ticket to the minors.

  Warren Buffett

  Baseball, Book, Mean

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• The export of oil, the export of minerals, will for many decades continue to be a critical part for the growth of African economies. The emphasis is on diversification. We have for many years - not just in South Africa but in many parts of the continent - spoken about beneficiation. And I think part of the secret, in relation to beneficiation, is you have got to make it attractive, profitable for the private sector - and it will take off. You may have to look at mechanisms like tax concessions... You will not have to worry about beneficiation if it makes commercial sense.

  Patrice Motsepe

  Thinking, Years, Oil

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• We need to diversify our economy, and the energy industry would be a great place to begin that diversification.

  Sharron Angle

  Energy, Would Be, Needs

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• Our policy is to concentrate holdings. We try to avoid buying a little of this or that when we are only lukewarm about the business or its price. When we are convinced as to attractiveness, we believe in buying worthwhile amounts.

  Warren Buffett

  Believe, Trying, Investing

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• As a result of overdiversification, their (active managers) returns get watered down. Diversification covers up ignorance. Active managers haven't done enough research into any of their companies. If managers have 200 positions, do you think they know what's going on at any one of those companies at this moment?

  Bill Ackman

  Ignorance, Thinking, Cover Ups

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• The Berkshire-style investors tend to be less diversified than other people. The academics have done a terrible disservice to intelligent investors by glorifying the idea of diversification. Because I just think the whole concept is literally almost insane. It emphasizes feeling good about not having your investment results depart very much from average investment results. But why would you get on the bandwagon like that if somebody didn't make you with a whip and a gun?

  Charlie Munger

  Thinking, Gun, Intelligent

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• In a large congregation, while there is a wide diversification of interest, it is also true that there are only a few basic human problems. It must also be taken into consideration that people are people regardless of who they are or what their backgrounds may be. There are certain deep universal appeals to human interest and to these human nature always responds.

  Norman Vincent Peale

  Taken, People, May

  Dr. Norman Vincent Peale (2007). “A Guide to Confident Living”, p.5, Simon and Schuster

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• Diversification is a surrogate - and a damn poor surrogate - for knowledge, elements of control, and priceconsciousness.

  Martin J. Whitman

  Investing, Elements, Poor

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• Events and developments that we have observed in 2014, prove that this year will be very difficult for the world economy, but thoughtful economic policy, diversification and unity between the country's leadership and people guarantee that this year will be successful for us.

  Ilham Aliyev

  Leadership, Country, Successful

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• If you have trouble imagining a 20% loss in the stock market, you shouldn't be in stocks.

  John C. Bogle

  Money, Loss, Investing

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• What went wrong is we had tremendous concentration in the sense we put a lot of our money to work against U.S. real estate. We got here by lending money, and putting money to work in the U.S. real estate market, in a size that was probably larger than what we ought to have done on a diversification basis.

  Vikram Pandit

  Real, Risk, Done

  "Charlie Rose" with Charlie Rose, charlierose.com. November 25, 2008.

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• It can be shown that maximum diversification is achieved by holding each stock in proportion to its value to the entire market (italics added)... Hindsight plays tricks on our minds... often distorts the past and encourages us to play hunches and outguess other investors, who in turn are playing the same game. For most of us, trying to beat the market leads to disastrous results... our actions lead to much lower returns than can be achieved by just staying in the market.

  Jeremy Siegel

  Past, Games, Play

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• We're non-diversified. We focus. Why not buy more of your best idea rather than your 60th best idea? How many companies can I really know well over time and focus on, on a daily basis?

  Bruce Berkowitz

  Ideas, Focus, Why Not

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• The three principal trends affecting how we do business in the newspaper production industry might best come under the headings: automation, diversification, distributed print.

  Eric Bell

  Automation, Three, Trends

  Source: www.wan-ifra.org

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