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8. Managing Your Portfolio > Tracking Results

Tracking Results

By tracking the performance of individual investments you can see whether your investments are doing the jobs you’ve assigned them. Tracking your overall portfolio shows you whether your portfolio management efforts are working. A well-tuned portfolio is a balance of risk [Hack #74] and return [Hack #83] , which also implies the proper doses of quality [Hack #85] and diversification of several types.

As it turns out, you have a choice when it comes to calculating returns, a fact that many mutual funds take advantage of when they tout their winning records. You can learn how to calculate returns for different purposes in [Hack #81] , [Hack #83] , [Hack #84] , and [Hack #82] . However, before you head there, you must understand internal rate of return.


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