Gross’s Law

There is, however, a syndrome among star managers – call it Gross’s Law. They start out being most valuable for their investing talent and end up being most valuable for their marketing charisma. As the fund grows in size, the portfolio is delegated to others, while the star pulls in the money.


(If I were Bill, I’d buy this image from Gapper’s article and frame it in my living room, it’s pretty awesome)

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