But..if a person is going to invest for 20 years...who cares?
<p>Maybe you haven't met too many investors who've been as bad as I was from the mid 70s to the early 90s. My dominant portfolio was my tech company's stock - I had some through options I received, and some that I bought, and the stock would split practically every 18-24 months. The company went the way most mini-computer companies went, and shares I held at forty something bucks went for about 60 cents, and I was laid off too. Never considered the risk about lack of diversification till the last 5 years or so, and even then was too irrational in not wanting to sell something for 10 bucks that day when it once fetched 42.</p>