Warren Buffett is the most successful investor of all time. He also gave some advice that is objectively bad. Warren Buffett claims that all you need are 6 stocks in your portfolio, if you know what you're doing. He claims that diversification preserves wealth, while concentration creates it. Today we'll look into that claim and show you why it's false for most investors. Not only is diversification a great way to hedge against black swan events, it's also a great way to avoid pitfalls. Even the best investors pick duds from time to time. Imagine if you, at home in your underwear on a Saturday afternoon, concentrated a majority of your portfolio into a stock that turned out to be a dud. That's valuable time in the market you'll never get back. Stay informed with our free disruptive technology investing newsletter, Nanalyze Weekly. Sign up now at https://www.nanalyze.com/nanalyze-weekly/. This episode is pulled from a YouTube presentation. View the original presentation at https://youtu.be/TAXzi3huVFk.