| How many stocks should you own in your portfolio? Warren Buffett and Charlie Munger discuss portfolio diversification at the Berkshire Hathaway Annual Meeting. Buffett and Munger say that an investor who is knowledgeable should ignore standard investment advice and only own a few companies in their portfolio. However, other investors should likely diversify their investments in a form of an index fund.
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Charles Thomas Munger (born January 1, 1924) is an American investor, businessman, former real estate attorney, architectural designer, and philanthropist. He is vice chairman of Berkshire Hathaway, the conglomerate controlled by Warren Buffett; Buffett has described Munger as his partner. Munger served as chairman of Wesco Financial Corporation from 1984 through 2011. He is also chairman of the Daily Journal Corporation, based in Los Angeles, California, and a director of Costco Wholesale Corporation.
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