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The Lazy Fundamental Analyst: Applying quantitative techniques to fundamental stock analysis by Fred Piard

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Part III: Applications

Chapter 16: Combined Portfolios

Defining goals and constraints

There are many ways to use the previous strategies in real portfolios. A simple one is to combine two or more strategies. The best solution depends on each investor’s goals and constraints, expressed in terms of:

  • frequency and time available for portfolio management,
  • capital invested,
  • appetite for risk,
  • aversion to market-timing or hedging,
  • aversion or attraction to specific sectors,
  • potential to trade in a margin account,
  • economic data and personal opinions on sectors,
  • other assets and incomes correlated with specific sectors.

This chapter shows two examples adapted to different situations.

1. 10 stock defensive portfolio

This ...

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