Berkshire Hathaway, Mr. Buffett's primary investment vehicle, has investments in 56 publicly traded companies. Yet, just one (Apple) makes up a massive 51% of its holdings by market value. Another seven make up an additional 34%, for a total of 89% (see below).
So, Berkshire is essentially a proxy for Apple, plus a very, very few more stocks. OK, so Mr. Buffett is not bound by the usual rules for portfolio diversification... but still... WHY has he decided to turn Berkshire into such an incredibly NON-diversified investment vehicle?
Honestly, I don't understand it. Can any reader please comment?