You go to the doctor for help. You explain your situation and you end up with a sticking plaster. The doctor says, “By the way, this is a great sticking plaster”. You go back again and they say, actually, we found a better-sticking plaster. And then the process continues again and again.
Are you solving the problem? You just seem to have a whole bunch of sticking plasters!
In the world of investment, portfolios are continually churned. You are told this fund or this stock is not as good, so let’s replace it with another better one. After a while, you go through the process again and again. Yet, if that worked, you would end up with the best portfolio and massively outperforming. That’s often not the result. You, therefore, need to ask the question. Am I solving the problem or am I just falling into the trap of applying sticking plasters, time and time again?
If you want to check out your portfolio, try out our Investment Audit. It’s applicable to ISAs, Pensions, Trusts, Offshore investments, and General investments.