Are the best fund brains more likely to excel at boutiques?
This is this question put to four boutique bosses in episode three of our series.
One boss reckons we need 'market dislocation' to unlock talent, while another reveals his firm has received a lot more approaches from fund managers interested in downsizing to a smaller employer.
Another sees boutiques as providing a route to market for ideas the manager passionately believes in.
Yet no matter how good a fund manager is, taking the plunge and joining a boutique is not a risk for everyone.
Episodes one and two of the Boutique tapes can be viewed below