I have 2 views on diversification. If you are a professional and have confidence, then I would advocate lots of concentration. If it's your game, diversification doesn't make sense. It's crazy to put money into your 20th choice rather than your 1st choice. For everyone else, if it's not your game, participate in total diversification. The economy will do fine over time. Make sure you don't buy at the wrong price or the wrong time. That's what most people should do, buy a cheap index fund and slowly dollar cost average into it. If you try to be just a little bit smart, spending an hour a week investing, you're liable to be really dumb.

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