Portfolio & Strategy
Building portfolios, choosing strategies, and the vehicles to do it.
A pile of good ideas is not a portfolio, and this topic covers the work of turning holdings into a coherent whole.
It starts with diversification and the correlation math that makes it work, then moves through Modern Portfolio Theory and the investment styles, value and growth among them, that shape how capital is deployed.
The vehicles to do it sit alongside, from ETFs to mutual funds, with sustainable and ESG options included.
Investing With Purpose connects the theory to real position sizes and real costs.
The aim is a process: a way to combine assets, choose a strategy, and pick the instruments that express it, built on evidence rather than instinct.
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Diversification is the practice of spreading capital across many assets so that the failure of any single one does not…
Modern Portfolio Theory is the framework Harry Markowitz introduced in 1952 for choosing a portfolio based on the joint…
Value investing is the practice of buying securities for less than you think they are worth. The discipline traces back…
Growth investing is the strategy of buying companies whose revenue, earnings, and cash flow are expanding faster than…
An exchange-traded fund, or ETF, is a pooled investment vehicle whose shares trade on a stock exchange throughout the…
An annuity is a contract with an insurance company in which you pay a premium, either as a lump sum or over time, and…
More in Portfolio & Strategy
A mutual fund is a pooled investment vehicle that takes money from many investors, buys a portfolio of securities, and…
The expense ratio is the annual cost of owning a mutual fund or ETF, stated as a percentage of assets. It is deducted…
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Correlation measures how closely two assets move together. It runs from minus one to plus one and is the single most…
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An ETF's market price and its net asset value (NAV) are two different numbers. When the market price is higher, the ETF…
A closed-end fund (CEF) is a registered investment company that issues a fixed number of shares in an initial public…
A SPAC is a publicly traded shell company that raises cash in an IPO with the sole purpose of buying a private business…
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A Master Limited Partnership is a publicly traded partnership, most often in energy infrastructure, that passes its…
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A structured note is a debt security whose payoff is tied to an underlying index, stock, basket, or rate rather than a…
A money market fund is a mutual fund that invests in short-duration, high-quality debt so it can aim for a stable share…
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The same mutual fund can be sold under several "share classes," each with a different fee structure. Class A, Class B,…
Every ETF trade happens in one of two places. The **primary market** is where authorized participants create and redeem…
A 529 plan is a state-sponsored, tax-advantaged investment account designed to pay for education expenses.…
A health savings account is a tax-advantaged account paired with a high-deductible health plan. It offers three layers…
A Series I savings bond is a U.S. Treasury savings bond whose yield combines a fixed rate set at issue with a variable…
A Series EE savings bond is a non-marketable U.S. Treasury security that earns a fixed interest rate and carries a…
A municipal money market fund holds short-term debt issued by states, cities, and other public entities, with income…
A prime money market fund holds short-term corporate debt such as commercial paper and certificates of deposit…
A variable annuity is a tax-deferred contract in which your premium is invested in market-based sub-accounts, similar…