The Common Stock Objective is to outperform the S&P 500 on a total return basis during a three to five-year market cycle. Therefore, the disipline is to have a maximum of 20 to 25 issues held in a portfolio. Each issue would represent 4 to 5% of the total common stock portfolio.
Growth rates for issues held, would in the aggregate, be greater than the growth rate for the S&P 500. The portfolio beta should be 0.99.
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