Fund managers face a time allocation problem: they must balance spending time on existing holdings (defense) versus searching for new positions (offense), and the tendency when managing large funds is to spend too much time defensively and not enough time offensively looking for new ideas.

causalpending

Speaker

Anthony Bolton

Evidence Quote

the tendency is when you run a big fund to spend too much time defensively and not enough time offensively

Source

Anthony Bolton | Podcast | In Good Company | Norges Bank Investment ManagementNorges Bank Investment Management
Created: 8/11/2026, 6:41:39 AM

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