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Conviction aur size ka rishta, aur us par ek upper limit kyun chahiye
Published by The Retail Trader · JUL 26, 2026 · Risk Management
Bade returns aksar concentrated portfolios se aate hain, aur bade nuksaan bhi wahin se. Sawaal ye nahi ki concentration achhi hai ya buri — sawaal uski upper limit ka hai.
Ek position jo portfolio ka bada hissa hai, wo aapka return bhi banati hai aur aapka outcome bhi decide karti hai. Uska galat hona baaki sab sahi hone par bhaari pad jaata hai.
Conviction ek feeling hai, aur feeling ka koi position limit nahi hoti. Isliye limit bahar se lagani padti hai, andar se nahi aati.
Ek practical dhaancha ye hai:
• Ek naam ke liye maximum percentage pehle se likh lo, position lene se pehle.
• Wo limit price badhne par apne aap nahi badhti — winner ko trim karna uska hissa hai.
• Employer ke stock aur ESOP ko bhi usi limit mein count karo.
• Poochho: agar ye naam kal aadha ho jaaye, to portfolio kitna girega.
Sabse khatarnaak concentration wo hoti hai jo dheere dheere ban jaati hai — ek acha stock badhta rehta hai aur ek din wo portfolio ka aadha ho jaata hai. Us waqt tak wo faisla nahi, ek aadat ban chuki hoti hai.
Ye article sirf educational hai — koi buy ya sell recommendation nahi, koi guaranteed return ka daawa nahi, aur koi advisory nahi. Rules, rates aur mechanics exchange, SEBI aur RBI time-time par badalte hain, isliye har number apne broker ya official source par khud verify karo.