Ann: Chairman, Managing Director & SVP of Sales US - AGM address, page-131

Hard to knock a diversified portfolio. It's how you ensure you stay alive in the game. Survivorship bias can lead some people to overcommit and lose way too much.

My portfolio looks rather lopsided now, but at least its driven by capital gains in a number of stocks rather than me going gung ho in a few speccies using my own hard earned cash.

Makes it easier to sleep especially during heightened market volitity as we have this year.

I know some people who have gone big on the right stock, but got shaken out at a loss because they could not stomach the volatility. Hurts to cop the loss then watch it bounce. If they had invested less they probably would have been able to hang on without losing any sleep.