Concentration requires discipline, patience, and insight. However it does offer a path to potentially superior returns.

Remember, as Warren Buffett wisely noted:

"Very few people have gotten rich on their seventh best idea."

Once again, in investing, sometimes less truly is more.

Enhanced potential for outperformance, lower turnover and greater cost efficiency.

A portfolio that reflected true conviction.

It wasn't about taking unnecessary risks.

It was about making each investment count…

I delved deeper into the concept of concentration.

8 to 12 high-conviction ideas became my focus.

Quality over quantity.

Deep understanding over surface-level knowledge.

Each investment now demanded rigorous analysis.

Every position had to earn its place.

The result?

"The idea of diversification makes sense to a point - if you don't know what you're doing."

Those words sparked a shift in my thinking.

I began to question the conventional wisdom.

What if less could actually be more?