Practice Drills: Constructing a Concentrated High Conviction Portfolio

A hands-on drill course for experienced investors who already understand the case for concentration and now need to execute it without blowing up. You will measure how much diversification your current portfolio actually buys, size positions with a half-Kelly framework using realistic win and loss estimates, and run the temperament and capital tests honestly. Then build conviction the hard way: write a one-page thesis on an NSE stock, reverse-engineer what the current price already assumes, and set measurable kill criteria before you buy. Construct a 12-stock book by conviction tiers, hunt down correlation traps and hidden factor bets, and plan a staggered entry. Finish by running a quarterly thesis review, making trim, add and exit decisions on a drifted portfolio, pricing the LTCG, STCG and cost drag of churn, stress-testing the book against March 2020 and 2008, and building a Rs 25 lakh concentrated portfolio end to end. Every drill uses Indian companies, NSE and BSE data, and INR figures.