Maverick investor stays true to name

Being outspoken on a litany of sports, cultural and business issues has become a personal mantra for Internet billionaire and professional sports team owner Mark Cuban.

Cuban's latest rant follows suit and this time he uses an investment columnist for a daily newspaper in Sarasota as a piñata for his point. Cuban's contention: Asset allocation in personal investing, otherwise known as diversification, is a dubious claim created by brokers and money mangers to sell financial products.

“Asset allocation is about making you a sucker,” writes Cuban in the Jan. 24 blog post on blogmaverick.com. “Do you seriously want to put a significant percentage of the money you will need for your future in funds that put your money into things you have absolutely no idea about?”