Diversification (Noah’s Ark critique)

Risk & Portfolio

The story of Noah's Ark comes to mind: gather two of every kind to survive the flood. This is how Wall Street and academia approach diversification; but as Warren Buffett put it, that's how you create a zoo. We are not in the zoo business, just intent on picking the right animals.

Source: What AI, Tariffs, and Global Uncertainty Mean for Your Portfolio April 1, 2026

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