NO DooDahs

What Is Diversification Worth?

Diversification is about allocating to different STRATEGIES, so long as said strategies have relatively low correlation to each other, and have positive expectancies.

"Buy and hold this asset class" is a STRATEGY.

One can get a diversification benefit by allocating money to different strategies in the same asset or asset class, i.e. short and long-term market timing techniques, Piotroski value and CANSLIM, etc.