Academic researchers at Yale School of Management (Martin Kmers and Antipodesto) published research on 'high active share' in 2009, validating Hagstrom's 1998 research findings about the benefits of concentrated portfolios approximately 20 years later.
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Robert HagstromEvidence Quote
“Martin Kmers and Antipedisto at Yale University... started to write about high active share”
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Warren Buffett Published His Whole Playbook | Robert Hagstrom on Why Only One Tenth of 1% Uses It— Excess ReturnsCreated: 8/12/2026, 6:12:15 PM
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