Question: Warren Buffett often says that he doesnt want a lot of diversification in his portfolio. He says that diversification means buying stocks that go up

Warren Buffett often says that he doesn’t want a lot of diversification in his portfolio. He says that diversification means buying stocks that go up along with stocks that go down; but he only wants to buy the stocks that go up! From the point of view of the typical investor, what is wrong with this reasoning?

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