Portfolio Management
Dollar cost averaging, core vs exploratory positions, position graduation, and letting winners run.
Dollar Cost Averaging
Deploy capital at regular intervals regardless of market conditions to eliminate timing error and build positions systematically.
Core vs Exploratory
A two-tier portfolio structure that maps conviction at different stages of development, from small exploratory stakes to high-conviction core holdings.
Position Graduation
How positions earn their way from exploratory to core status through accumulated evidence, multiple earnings cycles, and surviving real volatility.
Never Trim Winners
Why trimming a compounding winner to restore comfortable allocation is a bet against your best ideas, not prudent risk management.
Crash Buying vs DCA
Why holding cash for market crashes is a form of market timing that consistently underperforms disciplined dollar cost averaging.