Concentrated Investing: Strategies of the World's Greatest Concentrated Value Investors

We want to place several uncorrelated bets with a positive EV, and avoid staking our fortunes on any one of them, no matter how big the payoff might be. So now we have all the questions we need to ask in evaluating an investment opportunity: How efficient is the market? Do we have an exploitable edge? Is there a large or unbounded upside (+EV)? Is

As a player, you bet more when the odds of getting a card you want are in your favor and less when they are against you.