Cassel says he would avoid taking a single $50m investor to reduce redemption risk

What was said

""I'd rather have a table with 40 legs on it where if one gets pulled out, it's just as stable. I don't want one with four legs on it or three legs on it where you pull one out and the whole thing topples over.""

Asked about accepting a $50m institutional cheque, Ian Cassel says he would be reluctant to take that level of concentration in his fund. He argues that a single large investor could create instability if they withdrew capital, potentially forcing the fund to liquidate positions and harming other investors, and says he prefers a broader base of smaller investors.