ICI 16.0% 2.1¢ icandy interactive limited

ICI - record sales; cash flow positive current quarter; China launch, page-110

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    Yikes, I'm not sure who you heard saying that. I agree there is little point in diversifying across sectors, if you have a strong view on a particular sector, but spreading your risk across companies within a sector is definitely important. It reduces an important source of risk in small cap investing - that of management. Key personnel leaving a small company can have a big impact no matter how good their strategy is.

    By all means, invest in a sector (or commodity) with conviction but reducing your company risk is a different matter.
 
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