- 01
How Many Positions Is Right
Fourteen positions sounds diversified — until you realize most of them are too small to matter and too many to track.
- 02
Position Sizing Basics
AAPL is 14% of the portfolio after L1. That's still too much for a single name. Here's the floor and ceiling that actually work.
- 03
Real vs Fake Diversification
Owning eight US tech stocks isn't diversified. Here's what actually is.
- 04
Correlation Basics
Two stocks that both went up 30% last year — are they correlated? You can't tell from one year. Here's how to actually measure it.
- 05
Sector Allocation
Even after L4 you might still be 50% tech. Here's how to spread across sectors that respond to different things.
- 06
Geographic Allocation
100% US is a concentrated bet on one country, not 'the stock market.' Here's the global frame.
- 07
Core-Satellite Structure
Capstone. Tag every holding as Core or Satellite — the explicit distinction that turns 'I own stocks' into 'I have a portfolio.'
Capstone