Tails Drive Returns
The majority of investment gains stem from a small fraction of assets, a phenomenon evident even in broad index funds. Historical examples, like those from Warren and George, illustrate that while many investments may fail, a select few can yield extraordinary returns. This principle applies across the board in business and investing, where a handful of successful ventures often overshadow numerous failures.In this clip
From this podcast
Capital Allocators – Inside the Institutional Investment Industry
Morgan Housel – The Psychology of Money (Capital Allocators, EP.155)
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