Concentrated Investing by Allen C. Benello

Author:Allen C. Benello
Language: eng
Format: mobi, epub, pdf
ISBN: 9781119012047
Publisher: Wiley
Published: 2016-03-29T00:00:00+00:00

CHAPTER 5

Charlie Munger: Concentration’s Muse: Quality without Compromise

That ought to be the general theme of your book because having noticed this subject for a great many decades, I would say practically everybody that I run across that has a very good record for a very long time, he doesn’t do it by owning one hundred different securities over twenty different sub-sections of the economy. You get one Bill Miller or something out of people that try to do that and he’s fairly concentrated in a sense in little segments but basically the ones that last are people who run fairly concentrated portfolios. How could it be otherwise in a certain sense?

—Charlie Munger, 20141

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