Perhaps yes, but the old ideas were that diversification was for the incompetent. Literally the more competent you were, the less diverse your portfolio would be. If you keep only a handful of high-strong earners, you're golden.
Consider that if you invested $5,000 in Apple in early 2003 you'd have around $212,000. If you sold a 1/4 million dollar home and invested it all, you'd have 10 million dollars.
If you're Prometheus, you might have enough foresight and intelligence to play the market amazingly. If you kept money in stocks like Apple that are making like 60% growth annually, you'd be able to invest $1 at 18 and retire with 15 billion dollars at 68.
However, given that homeless people don't suddenly move into mansions by playing the stock market is a clear illustration that this doesn't work in the real world.
Consider that if you invested $5,000 in Apple in early 2003 you'd have around $212,000. If you sold a 1/4 million dollar home and invested it all, you'd have 10 million dollars.
If you're Prometheus, you might have enough foresight and intelligence to play the market amazingly. If you kept money in stocks like Apple that are making like 60% growth annually, you'd be able to invest $1 at 18 and retire with 15 billion dollars at 68.
However, given that homeless people don't suddenly move into mansions by playing the stock market is a clear illustration that this doesn't work in the real world.