This fund, and Graham's Y-Combinator, both follow the advice that Nassim Taleb gives for investing in an "extremistan" world of fat tails - many small investmen

This fund, and Graham's Y-Combinator, both follow the advice that Nassim Taleb gives for investing in an "extremistan" world of fat tails - many small investments, instead of a few larger ones. He argues that the profit from the few very successful investments will swamp the losses from the unsuccessful ones. See http://www.econtalk.org/archives/2007/04/taleb_on_black.html http://www.econtalk.org/archives/2007/04/taleb_on_black.html