How you divide money between broad categories — shares, bonds, cash — explains far more of your result than which specific holdings you chose. It is the least glamorous decision and the most consequential one, which is why it gets the least attention.
Check yourself
Most of a portfolio's long-run behaviour comes from…
Individual stock selection
The broad allocation between asset types correct
Entry timing
Picking is where attention goes. Allocation is where the outcome comes from.
Learn this properly
This term has a full interactive lesson in Wick — the chart, the pattern to tap,
and a live practice terminal to try it on. Free to start.