You’re not forced to own 1,400 different stocks, nor is anyone going to tell you to sprinkle your money on 100 issues. You’re free to own one stock, four stocks, or ten stocks. If no company seems attractive on the fundamentals, you can avoid stocks altogether and wait for a better opportunity. Equity fund managers do not have that luxury, either. We can’t sell everything, and when we try, it’s always all at once, and then there’s nobody buying at decent prices.
