bulls, bears, and moths - by Molly Mielke McCarthy
mothfund.substack.com · 471 words · saved by 1 readers
Q3.24 LP update excerpt
Below are some objections I’ve heard against Moth over the past few years and my thinking. Not solicitation in any way. My checks are small and I write a lot of them — my portfolio construction is designed for a straightforward power law distribution where one or a few breakout companies will 10x+ the fund without needing to own a big chunk of any one company. These incentives allow Moth to be highly collaborative with basically all other investors. Over time I plan to prove my right to more ownership but for now, I play where I can punch above my check size’s weight and optimize each fund…
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