Last Saturday (16 May 15) we conducted the inaugural Personal Portfolio Management Course.

Prior to the course, Jon looked through the slides and commented that this is more difficult to understand even though categorised this as the level 2 of financial education while stock picking is at level 3. He said people would understand stocks but portfolio concepts are abstract. For example, we have to touch a little bit about efficient frontier of the Modern Portfolio Theory, and then caveat that the frontier shifts throughout the history of financial markets and hence, there is no perfect portfolio structure unless you can foresee the future. The more practical way is to design a well diversified investment portfolio and wade through economic uncertainty defensively. Wow, what a mouthful.

It is indeed more difficult to comprehend portfolio management concept than saying this company is worth this much and now it is selling at …