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Should you end all your picks?



April 10, 2012 – Comments (0)

Not suggesting that one should do it per se -- but from time to time, this serves as a great mental experiment -- especially when you are in the heat of battle, and may occassionally lose sight of the big picture. 

Nygren continues, "Perhaps Steinhardt’s most interesting tactic was selling his entire portfolio when he was frustrated with his performance."   He quotes Steinhardt directly - "... I did not think we were in sync with the market, and while there were various degrees of conviction on individual securities, I concluded we would be better off with a clean slate…. In an instant, I would have a clean position sheet. Sometimes it felt refreshing to start over, all in cash, and build a portfolio of names that represented our strongest convictions and cut us free from wishy-washy holdings.” 

Wishy-washy holdings can be one of the most bordersome. 



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