Framework — Full Frame vs Full Five
Full Frame vs Full Five is a question about control, not ambition.
The difference is simple: Full Frame stops at Park, Earn, Build, and Roam. Full Five adds Dare, capped at 10%. The right choice depends on whether the investor wants a complete diversified core or a portfolio with a bounded conviction slot.
Core Three = Park + Earn + BuildFull Frame = + RoamFull Five = + Dare
Why the distinction matters
Roam solves geographic concentration. Dare solves boredom. Those are not the same job, and the Frame should not pretend they are.
If the investor cannot explain why Dare exists, the portfolio does not need it.
What to own
- Use Full Frame when the core needs a global sleeve but the investor wants no speculative slot.
- Use Full Five when the investor has a clear conviction bet and can keep it at 10% or less.
When to skip Dare
- If the core is already hard to maintain.
- If the investor has a tendency to double down on losers.
- If the portfolio is meant to be boring on purpose.
Where it fits
Where it fits: This page sits between the framework overview and the builder. It tells the reader whether the portfolio ends at Roam or continues into Dare.