concentration: everyone on the record — The Minutes https://minutesof.com/on/concentration/ Everyone on the record about concentration: 9 verbatim quotes from 5 people, December 2012 to April 2026, in one chronology, each with a timestamp and a… en Sun, 30 Aug 2026 22:32:52 +0000 Howard Marks: Marks notes Buffett made all his money on twelve ideas over seventy years, illustrating the scar https://minutesof.com/q/576a66a3-464b-4519-bdcb-f6ebec05769b/ https://minutesof.com/q/576a66a3-464b-4519-bdcb-f6ebec05769b/ “And, you know, Buffet says made all his money on 12 ideas. Guy invested for seventy years. He says he made all his money on 12 ideas.” — Howard Marks, Wharton School Tue, 21 Apr 2026 16:17:40 +0000 concentration Marc Rowan: Rowan argues ten companies now represent nearly 50% of S&P 500, all concentrated on one trend. https://minutesof.com/q/76c51df6-50a3-4891-9850-6a9174cadd05/ https://minutesof.com/q/76c51df6-50a3-4891-9850-6a9174cadd05/ “Have 10 companies today who account for nearly 50% of the S and P 500, and those 10 companies are all levered to one trend.” — Marc Rowan, CNBC Events Thu, 16 Apr 2026 13:25:25 +0000 concentration Bill Gurley: Gurley warns that widespread dependence on one player creates correction risk if they default on https://minutesof.com/q/d6f3de2f-7d6c-4c30-a225-242b012b1403/ https://minutesof.com/q/d6f3de2f-7d6c-4c30-a225-242b012b1403/ “And that is another thing that could lead to a correction if they ever have to start defaulting on some of those commitments.” — Bill Gurley, Yahoo Finance Mon, 26 Jan 2026 13:00:06 +0000 concentration Brad Gerstner: Gerstner held over 70% of deployed capital in top positions, arguing concentration matters more https://minutesof.com/q/396f3dbc-5fe2-45b6-ad81-a748b95589f1/ https://minutesof.com/q/396f3dbc-5fe2-45b6-ad81-a748b95589f1/ “Those positions represented over 70% of the deployed long capital in our fund last year. Stock selection matters. Concentration matters.” — Brad Gerstner, iConnections Wed, 31 Jan 2024 17:38:34 +0000 concentration Marc Rowan: Rowan says 100% of S&P returns this year came from 10 stocks at 50 PE, constituting 35% of the ind https://minutesof.com/q/44792d43-c148-4c74-bbdb-1095c0017913/ https://minutesof.com/q/44792d43-c148-4c74-bbdb-1095c0017913/ “A 100% of our returns this year are from 10 stocks which constitute 35% of the S and P that traded an average PE of 50.” — Marc Rowan, Bloomberg Television Tue, 05 Dec 2023 15:03:34 +0000 concentration Gavin Baker: Baker says Nasdaq returns in 2021 were dominated by Google, Microsoft, Nvidia, and Tesla, requiri https://minutesof.com/q/fc47dddb-65a8-477e-aa6e-5f9cab18c012/ https://minutesof.com/q/fc47dddb-65a8-477e-aa6e-5f9cab18c012/ “The market return, particularly for the Nasdaq, was really dominated by a few stocks, Google, Microsoft, Nvidia, Tesla.” — Gavin Baker, Invest Like the Best Tue, 25 Jan 2022 09:00:00 +0000 concentration Brad Gerstner: Gerstner notes top internet companies grew from 5% of Nasdaq in 2006 to 35% today. https://minutesof.com/q/5e657191-ce94-49a3-a8f4-7aa9daf186b3/ https://minutesof.com/q/5e657191-ce94-49a3-a8f4-7aa9daf186b3/ “In 2006, the top six or seven global Internet companies represented about 5% of the Nasdaq. Today, they represent about 35% of the Nasdaq.” — Brad Gerstner, Invest Like the Best Tue, 23 Jun 2020 09:30:00 +0000 concentration Brad Gerstner: Gerstner notes top internet companies grew from 5% of Nasdaq in 2006 to 35% today. https://minutesof.com/q/364a89c5-3793-49f8-bc0f-e3d4c480f0ca/ https://minutesof.com/q/364a89c5-3793-49f8-bc0f-e3d4c480f0ca/ “In 2006, the top six or seven global Internet companies represented about 5% of the Nasdaq. Today, they represent about 35% of the Nasdaq. So the big have gotten bigger at an accelerating rate,” — Brad Gerstner, Invest Like the Best Tue, 23 Jun 2020 09:30:00 +0000 concentration Bill Gurley: Gurley cites LP analysis showing top 10 VC funds all fell out when removing their single best per https://minutesof.com/q/5bb74cef-13b5-4330-9ef6-8b858e3eeb32/ https://minutesof.com/q/5bb74cef-13b5-4330-9ef6-8b858e3eeb32/ “And then they took the top performer out of those funds and they all fell out of the top 10 or maybe one of them stayed.” — Bill Gurley, GigaOm Tue, 11 Dec 2012 17:56:41 +0000 concentration