Asymmetrical Pay Off Table for Institutional Investors

The rule for institutional investors, stressed previously, is far from nonsensical. But if it is adopted, this should be done with awareness of the likely result over diversification. This goes all the way back to the beginning of this memo and each organization's need to establish its creed. To what extent will we concentrate on investments strategies and managers we think are outstanding? Or will fear of error, embarrassment, criticism and unpleasant headlines make us diversify highly emulate the bench mark port lo and trade boldness for safety?