When was the last time you reviewed your portfolio holding? Unless you own individual stocks have you read the prospectus to see what you holding actually contains?
So what does your portfolio hold? Is it a derivatives portfolio of is it a Buffet portfolio? Are their individual holding made to hold on for the very long term? Or are they bets on possible future outcomes? Or are they just bits of many companies in a mutual fund wrapper?
Yes, I am one of those who have read the prospectuses, granted I have not done it recently. I should reread them and see if my holdings have changed without my being aware of the changes.
But with the movies I have seen recently “The Inside Job” and “The Big Short” I feel I should make sure that I do not inadvertly own any CDO of derivatives.
Granted, I have dabbled in some penny stocks, that has been for my own amusement. But that is where my wild risk taking ends.
So I suggest that you review you actual holdings and evaluate your portfolios. Do not exclusively rely on your financial advisor. They may not know what the details are eiher.