If we start deciding, based on guesses or emotions, whether we will or won't participate in a business where we should have some long run edge, we're in trouble.
I don't need 15 houses. Owning real estate doesn't mean much to me. I don't like to think about things like that. I don't need 12 boats, or even the world's largest boat with a crew of 80. I'd have to take care of them, to worry about them. I get a lot more fun out of life without all the bells and whistles.
Too often, a vast collection of possessions ends up possessing its owner. The asset I most value, aside from health, is interesting, diverse, and long-standing friends.
I would say it's more important who the treasury secretary is than who the vice president is. If you want to have a debate here, I'd like a debate between potential treasury secretaries than the vice presidential debate.
The great personal fortunes in the country weren't built on a portfolio of fifty companies. They were built by someone who identified one wonderful business. With each investment you make, you should have the courage and the conviction to place at least 10% of your net worth in that stock.