En réponse à@owen_smith_078
Ouvrir le document source à ce paragraphe· debate_transcript_fr_bda4fa64.pdfBerkshire Hathaway's historical outperformance is an exception, not a general rule invalidating the impact of size on alpha. Maintaining such performance requires rare discipline and very specific conditions. Most managers cannot replicate such a model because access to significant investment opportunities diminishes with increasing assets under management. For example, a multi-billion dollar fund cannot invest in small companies with the same proportional impact as a smaller fund, limiting exponential growth options.
1
0
0