"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. In stating this opinion, we define risk, using dictionary terms, as "the possibility of loss or injury.""
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Businesspeople from the United StatesPhilanthropists from the United StatesAgnostics from the United StatesPeople from OmahaCompany founders
Original Language: English
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Sources
1993 Chairman's Letter
https://en.wikiquote.org/wiki/Warren_Buffett
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Warren Buffett
US-amerikanischer Unternehmer
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