portfolio management

On New Year's Day, you had plans -- promises to get your finances in order in 2011. Today, check your financial pulse: Where do all those good intentions stand? Ask yourself tough questions then take action. The experts tell you where to begin.

A hot topic on Wall Street last week was who would potentially replace the Oracle of Omaha at Berkshire Hathaway when he leaves. The latest candidate? Li Lu, a relatively unknown fund manager whose portfolio has averaged a 24% annual return.

Now that the global economy appears to be stabilizing, investors should consider what a potential recovery means for their portfolio. One thing is for sure, investing pros say: Strategic discipline and stock picking will be needed to ensure positive returns in 2010.

Portfolios made up entirely of exchange-traded funds have appeal. ETFs often have lower expenses than mutual funds, bring certain tax benefits, and trade throughout the day. But investors need to make sure they are properly diversified if they go they all-ETF route.

Retirement mistake #2 is using a "market beating" broker or adviser. Achieving paltry returns is not easy. After all, historically, the market rises over time. What accounts for dismal investor performance? Trusted "financial experts" who tell you they can pick stocks or mutual funds that will beat...