The Peel(@ThePeelPod):One fund. Five companies. @orenzeev on why diversification is overrated: "From the LP's perspective there's zero value in diversification. They're already diversified across managers. And from the manager's side, you don't need 30 or 40 companies. If you invested in 10 and the results were bad, the problem wasn't that you did 10 and not 20. The problem was elsewhere. A bad vintage. No real edge in access. Poor judgment. I had one fund with only five companies. Two were huge home runs. It worked."

The Peel

@ThePeelPod

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参加 June 2023

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The Peel@ThePeelPod

2026.10.26 16:49

One fund. Five companies. @orenzeev on why diversification is overrated: "From the LP's perspective there's zero value in diversification. They're already diversified across managers. And from the manager's side, you don't need 30 or 40 companies. If you invested in 10 and the results were bad, the problem wasn't that you did 10 and not 20. The problem was elsewhere. A bad vintage. No real edge in access. Poor judgment. I had one fund with only five companies. Two were huge home runs. It worked."