Portfolio construction is a simple but complex exercise. On one hand, you could take a relatively laid back attitude by simply purchasing a range of stocks with little regard for portfolio sizing. On the other, you could take an almost militaristic approach, with each position regimented and refined and made to have a material part of a larger cohesive whole.
The former would perhaps see new positions purchased on intuition and an ad hoc basis. The latter would see each new position tested to assess its impact on a range of quantitative portfolio metrics. Transitioning