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Value After Hours S04 E33: Equity Duration & Inflation, The Nifty Fifty, and Vermeer Fakes

The Acquirers Podcast

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I'm Going to Bet You're 12 and Counting It?

Gardner: You were outperforming from like the first eight years sucked and then you were kind of outperforming thereafter. If you took out the top five names out of that, I think you did pretty bad actually. So there's this return profile that's generated that comes asymmetrically from the top performers. And so if you're going to have these very asymmetric outcomes, you almost have to position size smaller and try to own a bunch of them so that you catch it.

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