Diversification

If your goal is not to manage money in such a way as to get a significantly better return than the world, then I believe in extreme diversification. So I believe 98 or 99 percent of people … who invest should extensively diversify and not trade, so that leads them to an index fund type of decision with very low costs. All they’re going to do is own a part of America and they have made a decision that owning part of America is worthwhile.