The one driving principle to keep in mind at all times is this: Discipline trumps conviction.
Put another way, no matter how much you believe in a company or its management, you must not let that belief take priority over your discipline. Regarding the practice of rebalancing, many mutual funds and money managers may opt to rebalance based on a set schedule — be it monthly, quarterly or annually. However, as active investors, we don't think so much in terms of predetermined dates to rebalance.
Traders work on the floor of the New York Stock Exchange on August 5, 2022 at Wall Street in New York City.Could you please ask Jim if he can do an education piece on when and how to balance a portfolio. Since joining the club, some of my positions have increased to 7-10% of holding [portfolio weighting.] I am finding it difficult to trim the winners.
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