Sometimes I wonder whether investors treat their portfolios too much like a hobby collection; I own this counter. I own that counter. I have some of this, some of that, and perhaps a few more things because they look interesting. But are they actually building a portfolio, or are simply collecting investments? Picture generated by Meta AI Think About a House Imagine this analogy: The house is the portfolio, the rooms are the asset classes, and the furniture inside each room represents the individual investments or counters. A bedroom, for example, may contain a bed, wardrobe, bedside tables and a chair. Each piece of furniture may be good on its own, but putting five beds and no wardrobe into the room does not make much sense. The same applies to a portfolio. A good investment does not automatically make a good portfolio addition. If I already have plenty of exposure to a particular sector, country or...