Sonkin: Top long-term outperforming investors have less specialization than allocators expect
Paul Sonkin · Paul Johnson and Paul Sonkin – The Perfect Investment (Capital Allocators, EP.32) · Nov 27, 2017 · at 48:43
Paul Sonkin, co-author of Pitch the Perfect Investment, argues to Ted Seides that top-performing fund managers like Seth Klarman succeed through flexible charters rather than rigid asset-class specialization.
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“The other problem that we kind of see with allocators is that they're looking, well, and you can opine on this more than I can, is that they're looking for specialization, and if you look at the people that have really outperformed over long periods of time, they haven't had as much specialization as you would think.”
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