Funds & Trackers
Diversification is not the number of funds you own
Three funds tracking the same market are one investment held three times, at three sets of charges.
Funds & Trackers
Index funds, diversification and reading a fact sheet properly.
21 articles · updated August 11, 2026 · page 1 of 2
Funds & Trackers
Reading a fund fact sheet without being sold to
A fact sheet is a regulated document and a marketing one at the same time. The useful parts are rarely the largest.
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Funds & Trackers
Fund choice absorbs the effort that changes the least
Investors spend weeks selecting between broadly similar funds and minutes deciding how much to contribute. The attention is…
Funds & Trackers
How a portfolio quietly becomes an identity
Once holdings become part of how you see yourself, selling one stops being an adjustment and starts being an admission.
Funds & Trackers
The urge to add one more fund
Portfolios grow by accretion, one reasonable-seeming addition at a time, until nobody can explain what the whole thing is for.
Funds & Trackers
Simple portfolios feel like an admission of ignorance
A single diversified fund looks like something you settled for. The discomfort is social, not financial.
Funds & Trackers
The fund you researched longest is the one you cannot sell
Effort already spent should have no bearing on what you hold next. It reliably does.
Funds & Trackers
Say out loud why you own each holding
A portfolio you cannot narrate is a portfolio you will manage by instinct, and instinct is the expensive part.
Funds & Trackers
Thematic funds sell a story you already believe
The pitch works because it confirms something you had already concluded about the world. That is the mechanism, not the evidence.
Funds & Trackers
A satisfying portfolio is a warning sign
Investing that feels rewarding week to week is usually delivering entertainment, and entertainment has a price.
Funds & Trackers
Comparing portfolios is a category error
Another person return tells you nothing useful, because you cannot see their horizon, their risk, their contributions or their…
Funds & Trackers
Backtests describe a past that was chosen after the fact
Any strategy can be made to look excellent in history if the rules are selected once the history is known.