Portfolio Tune-Up: Five Tips

With baseball season underway, the weather warming up and over a third of the year now history, it is time to give your portfolio a good tune-up.

Heading into 2008, I discussed how you can get your portfolio in shape for the new year. As a follow-up to that lesson, here are five things you can do right now to be better prepared to outperform your benchmark throughout the rest of the year.

1. Get the Red Out

Like spring allergies that can make your eyes all red and teary, your portfolio might be chock-full of stocks which are losing money ("in the red"). So take a hard look at any losing positions and put in the effort to understand why those stocks are down. ...