Here is part of the tradeoff with diversification. You must be diversified enough to survive bad times or bad luck so that skill and good process can have the chance to pay off over the long term.
Joel GreenblattSomething out of the ordinary course of business is taking place that creates an investment opportunity. The list of corporate events that can result in big profits for you runs the gamutโspinoffs, mergers, restructurings, rights offerings, bankruptcies, liquidations, asset sales, distributions.
Joel GreenblattRemember, itโs the quality of your ideas not the quantity that will result in the big money.
Joel Greenblatt