The myth of diversification
Adrian Warner
Avenir Capital
Modern financial theory says that diversification will reduce risk, but how well can you understand a business if it’s one of hundreds in your portfolio? “A lot of people with more diversified portfolios, own a lot of things but know very little about them. We prefer to invest in a small selection of high quality businesses and know a lot about them.” One such example is a Chinese company with a dominant market position, huge barriers to entry, and consistent high returns on capital.
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Adrian Warner is the Managing Director and Chief Investment Officer of Avenir Capital and is responsible for the portfolio management of the Avenir Global Fund. Prior to founding Avenir Capital, Adrian worked in private equity investment in Australia, Asia and the United States with an investment record spanning over 20 years.
Adrian Warner
Chief Investment Officer
Avenir Capital
Adrian Warner is the Managing Director and Chief Investment Officer of Avenir Capital and is responsible for the portfolio management of the Avenir Global Fund. Prior to founding Avenir Capital, Adrian worked in private equity investment in...
Expertise
Adrian Warner
Chief Investment Officer
Avenir Capital
Adrian Warner is the Managing Director and Chief Investment Officer of Avenir Capital and is responsible for the portfolio management of the Avenir Global Fund. Prior to founding Avenir Capital, Adrian worked in private equity investment in...
Expertise
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