Bakshi: Short-Term Redemption Risk Prevents Funds From Replicating Berkshire's Strategy
Sanjay Bakshi · #3 Sanjay Bakshi: Why Mental Models · Sep 18, 2015 · at 22:22
Sanjay Bakshi highlights why fund managers facing potential LP redemptions lack the structural capital advantage needed to copy Warren Buffett's patience.
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“When you're running a fund when you have investors who can pull the money out at a short notice, You probably cannot think on those lines, and which is something which Buffett and Charlie are familiar with, and they don't have their structural disadvantages. So you have to be very careful about these notions because you have to have the structural advantages that some people have to be able to have the privilege of thinking along those lines.”
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