Hi Pat: My question is about re-balancing my portfolio. I have a specific case, but if you can make suggestions overall, I would appreciate that. In the case of Torstar, my percent gain is 134%, compared to an 18.6% gain in my overall portfolio over the past year or so. As a result, Torstar now makes up 7.9% of my invested equity portfolio. Even though you still have Torstar as a Best Buy, should I sell part of this? Thanks.
When investing for our portfolio-management clients, we rarely put much more than 5% of a portfolio in any one stock. If a stock does so well that it comes to represent more than 10% of a client’s portfolio, we at least consider selling part of it to cut the risk.
In addition to the weight that the stock carries in your portfolio, however, we also consider how much of your portfolio is invested in the stock’s economic sector. Suppose you start out with 5% of your portfolio in a particular stock, and that stock does so well that it now makes up 10% of your portfolio. Now, suppose the sector the stock is in has come to make up, say, 28% of your portfolio. In that case, we wouldn’t feel any great compulsion to sell just to reduce your exposure to the stock or sector.
On the other hand, if you now have, say, 38% or more of your portfolio in that…
Privacy Policy and Terms of Use
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Legal Notices and Disclaimers
The contents of this web site and our publications are based upon sources of information believed to be reliable, but no warranty or representation, expressed or implied, is given as to their accuracy or completeness. Any opinion reflects the Successful Investor’s judgment at the date of publication and neither the Successful Investor, nor any of its affiliated companies, nor any of their officers, directors or employees, accepts any responsibility in respect of the information or recommendations contained in the publications or on this web site. Moreover, the information or recommendations are subject to change without notice.
Information presented on this web site or contained in our publications is not an offer, nor a solicitation, to buy or sell any securities referred to on the web site or in the publications. The material is general information intended for recipients who understand the risks associated with an investment in any securities referred to in the publications or on this web site. The Successful Investor has made no determination regarding whether an investment, course of action, or associated risks are suitable for the recipient.
