Mimicking the herd invites regression to the mean. As a truly active manager, if you're not making bets that look wrong to most people most of the time, you're not doing your job.

Howard Marks — The Most Important Thing: Uncommon Sense for the Thoughtful Investor

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Investors have been so oversold on diversification that fear of putting too many eggs in one basket has caused them to put far too little thought into individual eggs. Diversification is a hedge against ignorance, nothing more.

Joel Greenblatt — You Can Be a Stock Market Genius

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It is not titles that honour men, but men that honour titles.

Niccolò Machiavelli — Discourses on Livy

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