Investing with a high-conviction manager may sound prudent. Watering down exposure to a manager’s best ideas seems like it would only lead to mediocre performance, making it harder to recoup active ...

As we’ve discussed before, not all indexes are created the same way. One of the major differences, in addition to characteristics such as size and style, can be the weighting scheme. Once indexes have ...

Direct indexing services can mitigate portfolio concentration risk by underweighting exposure in a tax-efficient way. No one wants their investment portfolio to succeed or fail based on the moves of ...

Ahead of Their Time Entering this year, observers had long complained that the S&P 500 was overly concentrated, thereby relying too heavily on the performance of its largest positions. Such was the ...

Diversification is sometimes described as "the only free lunch" in investing. But is it? Not in the kind of fundamental value investing that I do. Increased diversification comes with two potential ...

This paper investigates the relation between shareholders' portfolio concentration and firm performance. Using data on more than 1.3 million unique shareholders, we create an index that measures how ...

I downgrade FDL to hold due to its heavy energy and health care exposure, which are underperforming and dragging on returns. The recent portfolio rebalance increased FDL's risk and volatility, with 55 ...

Of all the great investments Warren Buffett's Berkshire Hathaway (BRK.B +1.20%) has made, few have been more successful than Apple (AAPL 0.45%). Throughout its ownership, Berkshire has done things all ...