The article on my real-world Dividend Growth Portfolio earlier this month generated more interest than I expected. So I decided to write about an important part of the portfolio?s construction and maintenance: portfolio management.
I divide stock investing into three phases: stock selection, stock valuation, and portfolio management. I do this whether I am investing for dividends or for capital gains. Portfolio management includes everything that takes place after you have stocks in a portfolio. It covers important areas such as how much of the portfolio is allowed to be in any one stock; when and why to sell; when and how to reinvest dividends; and the like.
Portfolio management is best done, I feel, according to rules that you create before you create the portfolio itself. The rules are embodied in its constitution: the highest-level statement of your vision, goals, strategies, and expected results. Many people call this document
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Rebecca Mader Eva Green Lauren Conrad Arielle Kebbel Jessica Paré
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