Fisher Investments’ Founder, Ken Fisher, Debunks: “Concentrate to Build Wealth”

Fisher Investments’ founder, Executive Chairman and Co-Chief Investment Officer, Ken Fisher, reviews a chapter in his best-selling book, Debunkery, where he discusses portfolio concentration. According to Ken, there is no magic number of stocks a portfolio should hold. As he explains, to mitigate risk, it’s more important to have a core and counter strategy-owning a blend of stocks you expect to do well in the current market environment, and some that will do well if your expectations are wrong. By taking this approach, Ken believes an investor can properly manage risk while retaining growth potential.
While Ken acknowledges there are ways investors can find success in a highly-concentrated portfolio, he warns this approach comes with excessive risk of loss. Ken also discusses how over-diversification can make a strategy too complicated and obfuscate other risks.
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Investing in securities involves a risk of loss. Past performance is never a guarantee of future returns. Investing in foreign stock markets involves additional risks, such as the risk of currency fluctuations. The foregoing constitutes the general views of Fisher Investments and should not be regarded as personalized investment advice. Nothing herein is intended to be a recommendation. The opinions expressed are subject to change without notice.