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Diversification, Buy and Hold is a crock of sunola?

August 14, 2011

So here‘s a WSJ interview with Mark Cuban which I found to be interesting. The first 5-7 minutes are about investing and along the lines of how I have begun to feel about it, and he talks about entrepreneurship post the 15-minute mark. Some excerpts below.

On the markets –

“Anytime there’s volatility there’s opportunity…Unless you really have a commitment, just keep your money in cash – until we have a week or two like we have had.”

“I don’t have to spend much time on it until it hits the fan…My approach has always been – unless I know something specific, put it in cash.”

“When you sit down at the business table, you always look for suckers. If you can’t find one, it’s you! You’ve got all these professional traders on the other side of trades.”

“I think buy-and-hold is a crock of $!@#, and the idea that you always have to have your cash invested is not far behind… All that asset management, diversification – that’s for idiots. Because you can’t diversify enough to know what you are doing.”

On patent trolls and the need for drastic patent reform –

“The problem, as I mentioned, is that everybody is getting sued into oblivion… The minute they get any success, somebody is going to come to cut their knees.”

Source: WSJ

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