The Motley Fool on The Wall Street Journal on Emory University on Coke

The Motley Fool takes on an article in The Wall Street Journal in which they interview several professors at Emory on the school's endowment, a large portion of which is invested in Coca Cola stock.

The great irony of the situation is that Emory was largely built on Coke money, and the endowment's managers are taking a proper long-term view of their portfolio -- that's what got them where they are -- while the professors would rather diversify. The Fool rightly points out that almost no major fortunes have ever been made on a diversified portfolio (see Bill Gates, Warren Buffet, etc.). What they don't mention is the number of fortunes lost on a non-diversified portfolio.