Avoid Stupid

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Focused Oak vs. Diversified Saplings

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"Most investors plant 100 trees and hope a few survive."
"We plant one oak, water it relentlessly, and protect its roots."
"Concentration isn't just about returns—it's about responsibility."

Concentration builds conviction. When you know a business deeply, you can hold through anything.

Marlowe Keynes LLC Copyright · David L. Steinberg, Investor

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