Where Philosophy Enters the Process
A philosophy does not float above the portfolio. It changes a specific decision—and every later stage must preserve its logic.
Build the five-stage investment process, locate where different philosophies claim an advantage, repair a broken process, and save your own placement rules.
First learn the five stages. The process starts with the investor—not with a favorite stock—and ends with a preplanned evaluation.
Build the investment process
The investment process
The investment process is the sequence that turns an investor’s objective and market beliefs into portfolio decisions, implementation, and a disciplined evaluation.
Investor & mandate
Who is the portfolio for?The mandate is the job the money has to do. Set the objective and the constraints: risk capacity, horizon, liquidity, taxes, and available resources.
Example: Preserve five years of planned withdrawals while pursuing growth.
Lesson referenceProgress, workbench and sourcesHide
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