Not sure what your trade costs are but if you are paying $10/trade then when you buy in $1500 increments, you are paying 0.67% (not counting when you go to sell) so you could be better off buying an already diversified cheap mutual fund (for example TDB902 for US index is 0.35%). Of course if you hold for long periods you don't have to re-pay that $10 each year like you would in a fund.
For a small portfolio, you may want to just use the cheap indexes and then once you have larger values to trade buy individual stocks or whatever and keep your cost down that way. Just my 0.02 bps
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