You dont diversify?
Lemme guess, you cant get 50% per annum if you diversify?
People with real money focus on risk before return. The key for the everyday Joe is to not blow-up his hard earned and spreading it across asset classes, countries, strategies and managers is the best start to staying safe.
Do you trade the Asian, US and European markets directly?
Do you trade government, corporate or colateralised debt yourself?
Do you trade direct commodities and property on your own account?
Or is your entire wealth locked up in the Australian market being managed by one person with very strong ideas? Sounds risky
People win the lotto every week - but it isnt a good way of ensuring financial success.
I am not the biggest fan of much of the industry practice - but the comments above are silly. Without managed funds you are dealing in a very small opportunity set.