Before we build anything, we need to be honest about what you’re actually working with.

Most portfolios didn’t get built on purpose. A tip from a coworker here. Something from Reddit there. A fund your 401k picked for you. An IPO you bought because everyone was talking about it.

That’s not a strategy. And when you own 15 to 20 random positions with no system behind any of them, you are running a mutual fund. Except yours has no manager, no strategy, and no benchmark.

Watch the video above to see exactly what this means and why it matters.

Your homework: Write down every position you currently own. 401k, brokerage, Roth IRA, all of it. Just make the list. You can’t grade what you can’t see.

Next: Lesson 2 — Every Month You Hold a Losing Stock, This Is What It Costs You.

Questions? Drop them in the Discord: http://discord.gg/AsmXzsZxeB