I believe in maintaining REIT exposure and at the time RWR had not drawn much attention.

The telecom sector is a great place to add emerging market exposure because just about every country has a big phone company.

Straight forward, plain vanilla Industrial sector exposure.

The Trannies are an important part of the industrial sector, a way to add volatility within.

I use defense stocks in every portfolio, as opposed to the ETF, to ahve a chance of having something go up if there is ever a terror attack again. I should note that some clients do own the ETF.

Straight forward, plain vanilla consumer exposure. Some clients own this one.

Devices seems to be a good way to add outperformance in the healthcare sector.

I view Australia as a must own, although I do prefer an individual stock.