Thursday, April 16, 2009

Jim Rogers: Put all your eggs in one basket

He says ..

"Diversification is something that stock brokers came up with to protect themselves, so they wouldn't get sued [for making bad investment choices for clients]. Henry Ford never diversified, Bill Gates didn't diversify. The way to get rich is to put your eggs in one basket, but watch that basket very carefully. And make sure you have the right basket."

Jim Rogers: How He's Investing After the Crisis (Newsweek)