Diversification is a hedge against ignorance, but concentration is the engine of wealth.

If you have 50 stocks (which you can hardly keep up with anyhow), even a 10x winner is just a rounding error.

The math of "Ten Baggers" is brutal if you don’t have the conviction to size ideas up 👇

Look at the numbers:

A 10% position that goes up 10% generates the same dollar return as a 1% position that doubles.

Or in a more extreme scenario ...

• 10x return on a 1% position = +9% total portfolio.

• 10x return on a 10% position = +90% total portfolio.

Maybe you don't need more "good ideas" but instead more space and conviction for your best ideas?

The Forbes 400 isn't filled with people who owned the S&P 500. It’s filled with people who owned one or two great businesses and never let go.

Conviction + Concentration = Life-changing wealth.