Charlie Munger: She Owned Only 3 Stocks For 30 Years — And Made $6.5 Million

While her friends diversified into fifty stocks, Margaret did the unthinkable: she bought only three companies and held them for thirty years. Coca-Cola, Johnson & Johnson, and Procter & Gamble—three boring businesses that nobody talked about. But when she retired, her concentrated portfolio had turned $100,000 into $6.5 million, crushing her friends' diversified returns. This story reveals why knowing three companies deeply beats owning fifty you barely understand—and why concentration, not diversification, builds real wealth.