I’ve changed from diversified to high conviction several months ago. I used to roll with ETFs and some defensiveish stocks. Was pretty heavy on the emerging market side.
I then decided that $TSLA is the best place to be. I’m now subsequently 90% Tesla. This switch didn’t happen overnight. I slowly reallocated over a few weeks. Selling and buying TSLA dips.
5 figure portfolio btw. So not small potatoes where it wouldn’t matter if I lost it.
Edit: Hindsight 2020 and all. But if it hadn’t been Tesla, would do it again but with Apple.
Diversification is a hedge against ignorance - Warren Buffett.
Good companies that you understand will always beat the market.
My performance: (You can see where I started to switch strategy, currently 43% up.)
Basically I figured out I have a really high risk tolerance. I’m really not too bothered if the market goes down. In fact I wish for it. Covid was the best thing that could’ve happend for my portfolio. You can see I start increasing deposits as the market takes a turn.