One thing I hardly ever see mentioned on here is the beta of a portfolio. Fact is, I think beta IS an important factor.
Most indexes, like the S&P 500, have a beta of 1.0 A good value fund might have a beta of .60-.70, meaning it is 30-40% LESS volatile than the corresponding index it is matched against.
To me, not including beta in the discussion makes it hard to know if it's "right" or not for an investor, along with risk tolerance, etc.
Get your broker to give you the weighted beta of the portfolio, and we can probably give you a better answer............