Assets Quote by Michael Lee-Chin
“I'm making a case against how money managers are handling customers' money. The objective of the customer is not being met if the fund managers are diversifying their assets into hundreds of businesses. If they do this, they are typically performing close to the indexes. But that's not the way wealth is created.”
About This Quote
Source Speech: Financial Conference, 2015
Diversifying into many assets often yields index‑like returns, which fails to create true wealth for customers.
In simple terms: Too much diversification can limit wealth creation.
Key Takeaway
Seek focused, high‑conviction investments.
Themes
wealth creation
investment strategy
client focus
Mood
critical
analytical
Type
advisory
strategic
When to use this quote
- wealth planning
- client advisory
- fund selection
- risk assessment
Key Concepts
portfolio concentration
active management
alpha generation
Questions to Reflect On
- How can managers balance risk and wealth creation?
- When is concentration justified?
A Different Perspective
Diversification reduces risk but may also dilute outsized returns.
![“[When I die], I will decidedly not be regretting missed opportunities for a good time. My regrets will be more along the lines of a sad list of people hurt, people let down, assets wasted and advantages squandered.” quote by Anthony Bourdain](https://sms4smile.com/quotes/img-quotes/ba3/anthony-bourdain-649_advantage_when-i-die-i-will-decidedly-not-be-regre_24502.jpg)
