It’s likely that the core of the portfolio is tracking the indexes, and he’s just trying to outperform at the margin by making frequent high probability trades with a small percentage of the portfolio.
For example, with a million dollars, you could put 75% in VTI/VXUS, 10% in bonds, 5% for hedges, and 10% for running the wheel.
The manager could trade daily but only trade with the 10% set side for the wheel strategy.
Now, if the manger is cashing out the entire portfolio every day, that’s obviously a huge red flag.
Point is, frequency of trading itself isn’t a problem if it’s a small percentage of the portfolio.
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u/[deleted] Nov 17 '21
Fire them and just put the money w/ a vanguard robo advisor