"The difference in fund management is when you take secondary and the ability to give DPI. Even in your top names, sometimes taking 20% off the table can return 25% of the fund. Why wouldn't you do that? You're still long. You still own 80% of that company." @dafrankel Single biggest lessons in liquidity management and when to sell @infoarbitrage @chrija @NTmoney @BraytonKey