Warren Buffet

Investors are sailing in uncharted waters, writes Michael Block, and the only way to navigate them is through a well-diversified portfolio. But is it possible to have too much of a good thing?

The near-centenarian investor believes that institutions like BlackRock and Vanguard will wield outsize power in the market, and that our latest period of “wretched excess” will end with a bang. As passive investing becomes the go-to for a new wave of dumb money, Wall Street’s masters of the universe have been replaced with the emperors…