The Cost of Investment Hubris

Warren Buffett has famously said that "diversification is a protection against ignorance" and that it "makes very little sense for anyone that knows what they're doing."

This quote is often used as an argument against diversified investment strategies, but the thing is, Warren Buffett was probably not talking about you when he referred to people who know what they’re doing.

If you think that you are included in Buffett’s group of “people who know what they’re doing” you may have investment hubris, which can cost you in the long-run.

References: https://zbib.org/785fcdc083604e7797e7036a9c8d3c10
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