You’re exactly right. Portfolio size is absolutely the key here. To give yourself a fighting chance of finding an outlier-type return, you need to have some div

You’re exactly right. Portfolio size is absolutely the key here. To give yourself a fighting chance of finding an outlier-type return, you need to have some diversification... Gerry Neumann did a great post breaking down some of the math on this[0]. [0] http://reactionwheel.net/2017/12/power-laws-in-venture-portfolio-construction.html http://reactionwheel.net/2017/12/power-laws-in-venture-portf...