Brilliant. I try to think about this often, especially in times of investment distress.
Liquidity makes this a strange thought for assets like real estate - if transaction costs were eliminated, how much different would our real estate markets look?
It is also a fun experiment for non-investment goods. If you woke up tomorrow with no wardrobe for instance, what would you replace of what you owned before, and what would you forget?
Anyhow, I am certain that my firm's portfolios pass this test, and I encourage you to consider it for your own investments.
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Robinson Crawford, CFP®
Meet Robinson Crawford
A great advisor prioritizes his clients’ values and aspirations above all else. My job is to listen, understand, and work alongside you to ensure that your money works for you - not the other way around.