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Charlie Munger: "The very word diversification, which is taught in every business school as the holy golden grail, I consider almost asinine." "I'm only interested in investing where I have some sort of advantage. If I have the advantage in three different things, that's enough for any family." "That's fine for the ignorant people to be fully diversified, but if you actually know what you're doing, I think three investments are plenty."
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