Bridge over ocean
1 January 1997 Financial Analysts Journal Volume 53, Issue 1

Small Slam!

  1. Charles D. Ellis, CFA

Because a strong offense is the best defense in any free market, investment managers may be contributing inadvertently to their portfolios' disappointing performance through excessive diversification — and the consequent dispersion of attention that might achieve superior results if focused on playing to win instead of “playing to play.”

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