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#3: Steven Bregman on 'The Greatest Bubble Ever' (Passive ETF Investing)

Superinvestors and the Art of Worldly Wisdom

CHAPTER

The Importance of Diversification

Horizon Kinetics' wealth index is based upon the idea of an owner operator. An owner operated company is a company in which the person in charge, the CEO or chairman of the board are number one and largest shareholder. So we're talking ideally about someone's worth $250 million, but $240 million is in the stock. And that basically overcomes the agency problem.

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