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<p>[QUOTE=&quot;Cloudsweeper99, post: 1221879, member: 3011&quot;]I&#039;m not a big believer in anything approaching &quot;normal&quot; portfolio management, so that should be taken into consideration when reading anything I write.&nbsp; My basic approach is to hold cash unless I find some asset or asset class where I think the probability of gain greatly exceeds the probability of loss.&nbsp; And I cap those investments at a lower percentage of the total portfolio than most professionals advocate, so the risk of each individual asset is not a big deal.&nbsp; I abandoned traditional asset allocation [e.g., 60% stocks, 40% bonds or whatever] a very long time ago.&nbsp; Right now my equity holdings are about 40% PMs and 40% energy, so diversification isn&#039;t really something I practice.[/QUOTE]</p><p><br /></p>

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