When I first stared investment in stock market, we likely deal with one or two stocks. The idea is to get a feel of stock trading. The mechanics. The excitement. In a Bull market, we will see proportional gigantic returns. Stock picks are probably Tips or from Newspaper reading.   After I manage to save sizable sum for larger bets, this increase my stock punch or have a wider stock selections. Still can't bear any significant losses. Soon the start of reading Annual Report. This phase last the longest.   As the fund continues to grow, I look for stability in exchange for lower returns. Predictability has price. And slowly expand to portfolio level of management. In this aspect, we see thinks in more macro investment level and managing risks using Preference Shares, Bonds, Index and speculative positions. There is lesser excitement and always reading to find way to spruce up the ......