One big early hit can keep paying off. And some funds have long lock-ins. In this case, they sold part of their tencent to buy this. Selling a little bit each

One big early hit can keep paying off. And some funds have long lock-ins. In this case, they sold part of their tencent to buy this. Selling a little bit each year of a superstar early investment shows good earnings each year. I don’t know this fund at all, so they could be awesome for all I know. But saying “they are super smart for buying tencent” is not useful without lots of other info. Usually people who say that without extra evidence or mentioning survivor bias aren’t properly aware of what’s what.