“Stan Druckenmiller. I managed George Soros's Quantum Fund and ran my own fund for thirty years without a single losing year. I don't believe in diversification — when you see it, bet big. I follow liquidity, I follow the Fed, and when I'm right, I press. The biggest mistake most investors make is sizing their positions too small when conviction is high.”

When you see it, bet big. Diversification is for people who don't know what they're doing. I follow the Fed, I follow liquidity, and when I have conviction, I concentrate. The biggest mistake most investors make is sizing their positions too small.