Diversification sits at the heart of good investing. Diversified investors give up on the concentrated, high level exposure – and potential upside - of owning the next Amazon, hot sector or equity market. In return, they benefit from the aggregated returns of companies, sectors, and asset classes garnered across time. They avoid the prolonged and potentially deep pain of owning concentrated, poorly diversified portfolios. Don’t underestimate the powerful outcomes that this seemingly conservative approach delivers but be prepared to accept that in a diversified portfolio, some part of the portfolio will be performing poorly, at any one time. That is the price you pay.