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Partly true;
but single stock risk is more/in some cases bankruptcy like DAL, LEH,Bear Stearns, ……...
Besides QQQ, QLD TQQQ, [UPRO,SPXL] perform plenty good.
However I had much fun in the trade ''HEAR/Turtle Beach'' LOL/true, so I see your point.
BUT I could work 72 hours a week on single...