What Christopher Zook has said about Diversification (finance)
4 quotes · 1 episode · Sep 21, 2026
Christopher Zook, American investor, founder and chairman of CAZ Investments and co-author of The Holy Grail of Investing, has been quoted on Diversification (finance) 4 times in 1 episode of Modern Wisdom, most recently on September 21, 2026. Each quote below is verbatim and links to the moment it was said.
In their words
Zook says average portfolio correlation has risen from about 15% in 2005 to 82% today, worsening to 89% in down markets.
“your average correlation was about 0.15, which meant they correlated about 15% with each other. 85%, they were moving different directions, okay? Today, literally, with no change in that asset allocation, it is 82% correlation”
Modern Wisdom: The New Way For Ordinary People To Build Wealth - Tony Robbins - #1153 (Sep 21, 2026) · Listen from 11:18
Zook argues risk is really volatility tolerance and that most investors overestimate their ability to hold through losses.
“If you can't see it turn into 50 cents overnight, you don't belong in it”
Modern Wisdom: The New Way For Ordinary People To Build Wealth - Tony Robbins - #1153 (Sep 21, 2026) · Listen from 33:22
Zook says the most common investor mistake he sees is making decisions in dollar terms rather than percentages of a portfolio.
“People make investment decisions based on dollars. That is crazy. No professional investor does that. It has to be on percentages”
Modern Wisdom: The New Way For Ordinary People To Build Wealth - Tony Robbins - #1153 (Sep 21, 2026) · Listen from 37:08
Zook argues that the more risk-averse an investor is, the more diversified their portfolio should be.
“So the more risk averse somebody is, the more diversified they should be”
Modern Wisdom: The New Way For Ordinary People To Build Wealth - Tony Robbins - #1153 (Sep 21, 2026) · Listen from 36:57
Episodes
The New Way For Ordinary People To Build Wealth - Tony Robbins - #1153Modern Wisdom · Sep 21, 2026 · 1 h 30 min
Tony Robbins and Christopher Zook tell Chris Williamson how ordinary investors can access private equity, sports teams and alternatives to diversify risk.