New Delhi, Aug. 8 -- Every investor has a portfolio. But very few have a portfolio strategy. In the investment world, a portfolio number is usually just an identifier used to track holdings and transactions. But what if it meant something more? What if it represented not just what an investor owns, but how the portfolio is designed to behave when markets move from calm to euphoric, or from optimism to fear. That distinction matters because investing is not truly tested when markets are predictable. It is tested when they are not. A rising market can make almost any portfolio look well-constructed. The real test comes when valuations become stretched, optimism turns into euphoria or a sharp correction forces investors to question decisions...