A Quote by Warren Buffett
Diversification is a protection against ignorance. It makes very little sense for those who know what they're doing.
Related Quotes
Diversification is protection against ignorance. It makes little sense if you know what you are doing.
Neither the Army nor the Navy is of any protection, or very little protection, against aerial raids.
Protection, therefore, against the tyranny of the magistrate is not enough; there needs protection against the tyranny of the prevailing opinion and feeling, against the tendency of society to impose, by other means than civil penalties, its own ideas and practices as rules of conduct on those who dissent from them.
To know how little one knows is to have genuine knowledge. Not to know how little one knows is to be deluded. Only those who know when they are deluded can free themselves from such delusion. The intelligent people are not deluded, because they know and accept their ignorance as ignorance, and thereby have genuine knowledge.
What makes me angry is closed mindedness, prejudice against those who are different from you, reveling in one's own ignorance.
Energy in the executive is a leading character in the definition of good government. It is essential to the protection of the community against foreign attacks; it is not less essential to the steady administration of the laws; to the protection of property against those irregular and high-handed combinations which sometimes interrupt the ordinary course of justice; to the security of liberty against the enterprises and assaults of ambition, of faction, and of anarchy.
One of the reasons for conspiracy theories is an assumption that people in high places always know what they are doing. When they do something that makes no sense, devious reasons are imagined by conspiracy theorists, when in fact it may be due to plain old ignorance and incompetence.
Over-diversification is a hedge for ignorance.
Ignorance more frequently begets confidence than does knowledge: it is those who know little, and not those who know much, who so positively assert that this or that problem will never be solved by science.
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?
I remember reading in a comedy book very long ago when I first started, a person said there's a difference between a sense of humor and a sense of funny. A sense of humor is knowing what makes you laugh and a sense of funny is knowing what makes other people laugh. The journey of comedy, in a sense, is negotiating those two worlds.
Probably the reason it's a little hard to break away from the album format completely is, if you're getting a band together in the studio, it makes financial sense to do more than one song at a time. And it makes more sense, if you're going to all the effort of performing and doing whatever else, if there's a kind of bundle.
It's important to Russia to be able to attract capital and to attract technology to develop their oil fields, their oil and gas fields, many of which suffer from lack of access to the very best technologies. And it's also important, and this has been the US government's view to have diversification of supply, diversification of supply roots and, of course, diversification in terms of alternative energy.
Anger is a passion, so it makes people feel alive and makes them feel they matter and are in charge of their lives. So people often need to renew their anger a long time after the cause of it has died, because it is a protection against helplessness and emptiness just like howling in the night. And it makes them feel less vulnerable for a little while.
Pension and health benefits are a cornerstone of union protection. When actors' work is split between two unions, that protection is weakened or, in the worst cases, eliminated. That's not acceptable, and it's one of many reasons merging SAG and AFTRA makes sense.
Every honest researcher I know admits he's just a professional amateur. He's doing whatever he's doing for the first time. That makes him an amateur. He has sense enough to know that he's going to have a lot of trouble, so that makes him a professional.
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