From Morningstar:

The analyst admits to making common investment mistakes, despite his wealth of experience. He outlines five key investment rules that he often breaks, opting for a realistic rather than perfect approach aimed at iterative improvement. These include an overly heavy investment in equities and a home bias in stock portfolios

While his portfolio has 82% invested in equity, 70% of which is in North American companies. The analyst also admits that his trading account is too concentrated, with just 16 individual stocks rather than the recommended 20-30. A further breakdown reveals that he is currently overweight in large-cap stocks.

Finally, the analyst admits to rarely selling shares opting for a steady buy-and-hold strategy. Sticking around too long with certain stocks has cost him on occasion, such as when Merck & Co’s stock price went 20% overvalued. Despite his misgivings, his portfolio has performed well, prompting him to consider areas for improvement in the new year.



Read more: Confessions of an Analyst: My Five Investing Mistakes