XYLD - My 9.5% Income Portfolio-Like Mosaic Tiles

2025-02-04 12:02:15 ET

Summary

• Our investments, usually conceived and implemented gradually over time, are the pieces of a personal mosaic that form the whole of our assets.
• One solution for entering the financial markets can be Dollar-Cost Averaging (DCA), a form of investing a constant amount at regular intervals.
• However, initiating a plan to buy stocks according to the logic of DCA presupposes awareness of the fluctuations in financial markets and their psychological implications.
• My strategy is to increase purchases in times of market uncertainty, and thus with falling prices, exclusively in positions that have proven successful over time.
• In this article, I explain why DCA is an investment strategy that does not belong to me, and I do not see it as effective in controlling risk.

The Mosaics of Ravenna

Ravenna is a small city located in an area south of the Po river delta and a short distance from the Adriatic Sea. In the early Middle Ages, it became the capital of the Exarchate of Italy, a district of the Eastern Roman Empire under the jurisdiction of a governor appointed by the power in Byzantium. Having thus become the seat of a flourishing trade with the entire Mediterranean, Ravenna was enriched between the fifth and sixth centuries by a complex of monuments which preserve a superlative collection of early Christian mosaics.

Eight of its religious buildings, of early Christian and Byzantine origin, have been declared a UNESCO “World Heritage Site.” Some are located within the city, while others are scattered in the surrounding area, forming an artistic and architectural ensemble of enormous beauty. Within three basilicas, two mausoleums, two baptistries and a chapel, these eight gems preserve a heritage of extraordinary importance for the supreme artistry of mosaic art at its peak....

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