We fight for lost causes because we know that our defeat and dismay may be the preface to our successors' victory, though that victory itself will be temporary; we fight rather to keep something alive than in the expectation that anything will triumph.
There is one thing of which I can assure you. If good performance of the fund is even a minor objective, any portfolio encompassing one hundred stocks (whether the manager is handling one thousand dollars or one billion dollars) is not being operated logically. The addition of the one hundredth stock simply can't reduce the potential variance in portfolio performance sufficiently to compensate for the negative effect its inclusion has on the overall portfolio expectation.
You cannot live with expectations because life has no obligation to fulfill your desires. You can live with an open heart, but you cannot live with expectations. The more expectations you have, the more frustrated you will be.
Expectations always lead to frustrations. Expectations are the seeds, and frustration is the crop that sooner or later you will have to reap. It is your own doing.