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If you think they are good at picking winners at scale then many small bets makes sense, like a VC fund. Of course it's harder to tell if they're doing any work
by smallnamespace 3y ago
If you think they are good at picking winners at scale then many small bets makes sense, like a VC fund. Of course it's harder to tell if they're doing any work since they're not private investments, but many VC funds also ride coattails without adding much alpha.
- toomuchtodo 3y agohttps://www.youtube.com/watch?v=oFPMvlLlkyY https://www.youtube.com/watch?v=oFPMvlLlkyY Less than five minutes, but gets the point across. Skip to 2:50 for visual.
- tempsy 3y agoThis is not anything like a VC fund. 700+ positions in mostly large mature companies is so overly diversified that it would be near impossible to deviate too far from S&P or a world index.