Hi Everyone, I just joined PRO but have been a member of Stock Adviser and Hidden Gems for awhile, and before I joined PRO I had recently bought some of the Stock Adviser/Hidden Gem recommendations best buys now such as Berkshire, Duluth and Kinder Morgan. I also have sizeable positions in other recommendations such as Amazon, Chuys, Apple and others which have done very well for me. However, I did have some spare cash set aside and used this to buy all the Buy First stocks listed by PRO which will encompass 30% of the portfolio. However, the other 70% is still allocated to the prior purchases. In reading PRO, your recommendations are more of a portfolio recommendation rather than stock picks. Therefore, I am a little torn about how to proceed with the rest of the portfolio as I do not want to sell of the other 70% immediately. Is there any recommendation on how to best proceed? I am reluctant to just sell off the 70% remaining stocks, let alone the tax implications. Any advise would be appreciated!
kreovukI am a little torn about how to proceed with the rest of the portfolio as I do not want to sell of the other 70% immediately.The good news is that nobody is coming round to check up on you! If you choose to keep AMZN, DLTH, KMI etc that's fine. You can keep them in separate accounts, you can keep them in the same account as Pro and manage the separation in a spreadsheet, your head, on the fridge door; all good.In reading PRO, your recommendations are more of a portfolio recommendation rather than stock picks.That's exactly what they are, with a Fair Value attached unlike Stock Advisor picks and with guidance on allocation:http://newsletters.fool.com/1228/coverage/memos/2016/03/07/t...So I'd just leave it as it is for the time being, take some time to review your current holdings and decide if you see them as performing in the future as you wish, try to add a little cash each month. You won't be tracking Pro 100% but nor am I after 6 years, nor do I expect to after 9. And I think that's true for quite a few around here.Plenty to read on this topic on the boards with you new guys on board so you may well find your questions already answered; otherwise post away!Andy
Hi kreovuk,Welcome to Pro! Congratulations on your first post!However, the other 70% is still allocated to the prior purchases. In reading PRO, your recommendations are more of a portfolio recommendation rather than stock picks. Therefore, I am a little torn about how to proceed with the rest of the portfolio as I do not want to sell of the other 70% immediately. Is there any recommendation on how to best proceed?In addition to Andy's excellent advice, Pro has a page on starting out when you are "invested elsewhere", http://newsletters.fool.com/1228/guide/getting-started/make-....I am reluctant to just sell off the 70% remaining stocks, let alone the tax implications.At your pace. It does not all have to be this tax year.I think of my accounts as if there were artificial partitions for Pro, Options, other Fool services, etc. Pro is my largest partition and it is doing best so I am slowly increasing its size.phooL on!Lon.
Hi kreovuk,Welcome to Pro!I'll add a few more thoughts to the great responses you've received:Under the Guidebook tab above (to the right) we suggests that new members sell least favorite existing positions to move into the Pro portfolio -- or a version of the Pro portfolio that suits them. But overall, I think everyone should build a portfolio they're happy with. Mirror a service as much or as little as you like, depending on your skills and interests. Following Pro 100% is fine. But following half and making half your own is good, too, if you¹re investing logically, of course, and at reasonable allocations. The lessons learned in Pro are hopefully applicable to any portfolio: The quality of companies we seek; the way we use options; the hedging and shorting strategies to lower exposure. This can all apply to the port you choose to build.You shouldn't sell great stocks you like owning, and would owe taxes on, just to mirror us exactly. Build your Pro portfolio using our approaches, but make it yours if you like! If you manage your exposure with us, and have several Pro holdings, and are good at choosing your other stocks, you should do well. I will say, we don't know which of our stocks will do best, so we run a full portfolio, and like people to follow it all, but diversification with some other good stocks can lead to a similar desired outcome, too.I hope this helps. And thank you for being a Fool with us!Best,Jeff
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