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Baby steps to portfolio makeovers

Adrian Mastracci, Senior Portfolio Manager at Lycos Asset Management

At some point, every portfolio requires a partial or total makeover. Especially those that keep buying random investments. I recommend reviewing the need for a portfolio makeover. My preferred approach is to start with a few simpler baby steps that have the ability to pave the way to the bigger picture.

A full portfolio overhaul can be an exercise too daunting for investors. The approach calls for implementation of a detailed process. Starting with gradual portfolio tweaks often makes better sense. Even though a total makeover may ultimately fit best.

Let’s consider some simple baby steps as starters. Suggestions such as:

  • Adopt a prudent policy of investing gradually.
  • Pay extra attention when nearing retirement or fully retired.
  • Ensure your investing risks are manageable.
  • Focus more on your “how to” invest strategies.
  • Sell some losing positions and move forward.
  • Learn to take some profits without regrets.
  • Monitor your portfolio two to four times per year.
  • Do not confuse daily headlines with actionable facts.

Baby steps help open the portfolio makeover door and create momentum for bigger changes ahead. They also reduce ongoing portfolio mess-ups.

Consider my baby steps as motivation to your total portfolio makeover. A methodical road map to your destination is made easier.

Adrian Mastracci

My expertise in the investment and financial advisory profession began in 1972. I graduated with the Bachelor of Engineering from General Motors Institute in 1971 and then attended the University of British Columbia, graduating with the MBA in 1972.
Adrian Mastracci

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