Diversified versus focused approach to investing

[yeokiwi]

Anyone with focus approach(each stock is at least 10%-20% of net investible asset)that hits above 55% return over his/her net investible asset in 2012?

That is hard, cos that means that the particular asset had to appreciate 275%-550% over 2012, which only points to a few counters like Yoma, GSH corp. which are speculative counters in my view

The high performers in this forum got around 40+% gain in their portfolio. So, I was wondering anyone doing focus investing is able to outperform by a reasonable margin that eliminates the safety margin offers by diversified approach. Theoretically, it is possible since the funds are concentrated in a few stocks and any of them becomes a multibagger will easily pull up the entire portfolio significantly.

But, in practice, it is easier to hit multibaggers in a diversified portfolio.

So... it is better to hit a multibagger frequently in a diversified portfolio or hit one huge multibagger occasionally in a focus portfolio??