Concentrated risk = generational wealth?
Risk-seeking investors don't care about derisking gimmicks
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In this post, the author calls Stanley Druckenmiller the GOAT and says things like “diversification is where conviction goes to die,” etc.
This is a surprisingly common view.
Morgan Stanley published a piece last year on many behavioral aspects of holding concentrated positions (HOPES for Concentrated Equity: A Multi-Strategy Approach), including the “eyeroll” table.
I really like this paper.
Except it leaves out one big thing…
