When it comes to investing, nothing beats cheap and easy.

In today's

Portfolio Therapy

,

TheStreet.com's

personal finance columnist Dagen McDowell gives readers some key advice on cutting costs and eliminating unnecessary excess in their mutual fund portfolios so they can sleep at night.

In the Q&A session, Dagen answers several reader questions, including: If a hot stock tumbles over one or two sessions, is it better to ride out the rough patch or sell it in the hopes of buying it back at a later price?

Lastly, in the Rant, Dagen focuses on JDS Uniphase (JDSU) to explain why the white-hot tech stocks of the late 1990s will never get back to where they were before.

TheStreet.com offers Dagen McDowell's Portfolio Therapy twice every week. In each 20-minute Webcast, Dagen gives listeners sound financial advice, answers to tough investing questions and lively rants against the excesses and abuses on Wall Street. Click on the accompanying tile above to listen to today's Portfolio Therapy. You can also check out Dagen's previous sessions.