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Strategies & Market Trends : Value Investing
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To: Terry Maynard who wrote (3653)3/26/1998 7:01:00 PM
From: James Clarke  Read Replies (2) of 78659
 
Portfolio management. I agree with Michael. I used to own 15-20 stocks, but then cut it back to 8-10. That's a number I can keep a close eye on, and it makes me really do my homework because I might have to sell something I like to buy a new one. When I had 15 stocks, I figured, what's another tiny position. I'll finish my research later. But with just ten, each one is a big investment, so I double check the numbers. The first rule of investing is "know thyself" That's how I think. It may not be how you think.

And if you're worried about a major disaster wiping out a big chunk of your portfolio if you are wrong, then you will also miss the opportunity to hit a home run when you're right. I had 25%+ of my portfolio in St. Joe for most of 1997 and had about 20% in Philip Morris in late '96 to early '97 when it went up 40% in three months. That made up for my losers and then some.
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