Diversification for investors

"Diversification is a protection against ignorance. It makes very little sense for those who know what they're doing." - Buffett

"Diversification is for people who aren't sure about what they're doing," - billionaire investor Kirk Kerkorian (has told his aides). He sizes up deals by homing in on two or three key "gut points."

I just came across these quotes in the past week. Beautiful! Its what I've been preaching (and practising) the past year that I've been actively playing the stock market. And made myself some returns that would make these guys real glad (atleast in % terms! ;)) Ah well, great minds...