Bill Wilby, a legendary global investor who retired in 2007, shares his insights on managing a retirement portfolio with a hands-on stock-picking approach. He discusses the shifts in private equity and venture capital, emphasizing the risks posed by debt and leverage. Wilby reveals his strategy for a diversified portfolio, highlighting growth in emerging sectors like AI, and the importance of investing in transformative technologies like ASML in the semiconductor industry. He underscores the necessity of diversification for long-term wealth protection.