"The three most important words in investing are: margin of safety. The four most dangerous words are: this time it's different. The five most powerful words are: keep it simple, stupid."

Complexity is seductive. It feels sophisticated. But in investing, complexity often masks uncertainty and increases the chance of error. The best portfolios are often the simplest—a handful of high-conviction positions held for the long term.

Fewer Holdings

Know each position deeply rather than superficially tracking dozens.

Lower Turnover

Trade less, think more. Patience compounds; activity erodes.

Clear Strategy

If you can't explain your strategy in one sentence, it's too complex.

Simplicity Score

Fewer Holdings

Lower Turnover

Clear Strategy