Risk comes from not knowing what you are doing so wide diversification is only required when investors are ignorant. You only have to do a very few things in your life so long as you don't do too many things wrong.
A witnessing consciousness lives in life but with tremendous non-attachment, with great non-possessiveness; it possesses nothing. It lives totally, it lives passionately, but still knowing that I don't possess anything.
When you drop the ego, you drop a whole world that you have created around it. For the first time you are able to see things as they are - not as you would like them to be. And when you are capable of knowing the facts of life, you become capable of knowing the truth. The facility of life is the first step towards truth. And ego is the most falsifying agent.
The necessity of knowing a little about a great many things is the most grievous burden of our day. It deprives us of leisure on the one hand, and of scholarship on the other.
The notion that somehow as a consequence of me knowing somebody who engaged in detestable acts 40 years ago, when I was 8 years old, somehow reflects on me and my values doesn't make much sense.
The most strongly enforced of all known taboos is the taboo against knowing who or what you really are behind the mask of your apparently separate, independent, and isolated ego.
What an investor needs is the ability to correctly evaluate selected businesses. Note that word “selected”: You don't have to be an expert on every company, or even many. You only have to be able to evaluate companies within your circle of competence. The size of that circle is not very important; knowing its boundaries, however, is vital.
If we were to lose our fish that we appreciate so much by overfishing; or if we were to lose some of our favorite beaches to overbuilding and pollution, then how would we feel? It's become a case of not knowing what you've got until it's gone.