2 Nov 2017
In this month’s letter, Peter aggregates recent discussions he has had on the subject of “good active management”. In relation to AUM, he notes that small is beautiful (but not too small), citing his August letter in which he wrote, “the big firms…continue to peddle the notion that bigger is better – witness a certain recent merger – when in fact my – and Warren Buffett’s! – opinion is that the opposite is the case."
To read the rest of Peter's thoughts on why size is important, and the other four points that follow, please click here.