there aren't fifty coca-cola's there aren't twenty if there were be fine we could all go out and diversify like crazy among that group and get results that would be equal to owning the really wonderful one but you're not gonna find it and the truth is you don't need it i mean a really wonderful business is very well protected against the vicissitudes of the economy over time and competition three of those will be better than a hundred average businesses and they'll be safer incidentally there is less risk in owning three easy to identify wonderful businesses there and then there is an owning fifty well known big businesses and it's amazing what has been taught

over the years and finance classes about that but i can assure you that if i had to bet the next thirty years on the fortunes of my family that would be dependent upon the income from a given group of business i would rather pick three businesses from those wheel and then own a diversified group of fifty