For years, the hedgehogs have ruled the foxes in the investment world. It may be time for a change.

The distinction between hedgehogs and foxes comes from the late philosopher Isaiah Berlin, who divided history’s great intellectuals into two camps. Hedgehogs understood one big idea, which suffused their view of the entire world. Foxes had different influences, and a more nuanced or complex view of the world. Neither is meant as a term of abuse. Shakespeare, according to Berlin, was a fox. Plato was a hedgehog. There is a place in intellectual history for both.