Don’t put all your eggs in one basket,” is the proverb we have all learned in school. When we grew up and became investors, we learned that this is a basic virtue we need to imbibe and it is also called diversification.
Fund investors took this as an injunction that they should invest not just in one or two funds, but in a large number of funds. So they decided that investing in two funds was better than one, three was better than two, four was better than three and so on. Is there an u ..
