Recently I turned 40 and so I went today for a check up just make sure everything is OK (it is). I think there is an analogy here for managing your portfolio.
There is not much that is pleasant about getting poked and prodded but it is what you do so that small problems, if there are any, don’t become big problems a little later.
A small problem in your portfolio might be having too much of one thing and not enough of another. Over the last month I have heard from a lot of people with too much in emerging markets, that’s been one problem (large or small depends on how much you have) and although it has not come up a lot in the comments perhaps people have too little exposure to consumer stocks.
As the S&P 500 has fallen close to 4% this month consumer stocks have only fallen 2% (as measured by IYK and IYC). This is important. If you had little or no consumer
exposure this past month and too much in emerging markets you are probably down a lot more than 4%.
Not everything in a portfolio will work or be interesting for a given period of time. One idea that I have written about before is not knowing where leadership might come from. You can think it will be tech, for example, but the consequence of being wrong depends on how much you tilt your portfolio toward your expectations.
The typical investor (as differentiated from a trader) does not need to hit a home run every quarter. An occasional checkup of sorts to make sure you have not made a bigger bet that you realize is a good idea but I know from comments and emails that not enough people do this.