Dare we treat such weighty matters lightly?

Sophisticated investment management seems like the last place one should evoke a smile. But, again, when all competitors march in lock-step the result is an opportunity to stand apart. Rather than profile the L-S analysts (typical) it was agreed to leverage one point of distinction: specialization. Uncharacteristically, each fund manager is allowed to focus on a single type of security. Which allows more penetrating analysis. Even obsession.