yes its the inverted power law thing - the same dynamics that make 1/n approach work in a VC equity portfolio seems like poison in a debt portfolio - only one c

yes its the inverted power law thing - the same dynamics that make 1/n approach work in a VC equity portfolio seems like poison in a debt portfolio - only one company out of n survives? fine if that company pops on the equity side, that pays for all the other losers. but on the debt side, it seems like a bad idea lol.