The Diversification Puzzle

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The Economic Virtues of SRI and CSR (2007, background): “According to updated estimates, however, the optimal number of stocks from a mean-variance perspective has increased too over 300 (see Statman (2004)).”
What Drives Stock Price Movements (2013, unknown): “, Vuolteenaho (2002), Cohen, Polk, and Vuolteenaho (2003), Callen and D.”
Chapter 21 - Household Finance: An Emerging Field∗ (2013, unknown): “As Tufano (2009) points out, the financial services and products used by households constitute a substantial portion of the financial industry in all advanced countries.”
Investing for long-term value creation (2019, unknown): “Statman (2004) shows that a well-diversified stock portfolio needs to include just 50 to 100 stocks to eliminate idiosyncratic or unsystematic variance of stock returns.”
Gambling Preference and the New Year Effect of Assets with Lottery Features (2012, background): “…as an explanation for a number of aspects of individual financial decision making, such as the purchase of both insurance and lotteries (Friedman and Savage 1948; Markowitz 1952), portfolio underdiversification (Statman 2004), and portfolio overweighting on lottery-like securities (Kumar 2009).”