It is evident that creation of an investment portfolio could always need a rational investment activity. Portfolio management deals with portfolio analysis, portfolio revision, security analysis, portfolio selection, and portfolio evaluation. Portfolio management would also make use of analytical techniques of analysis and conceptual theories regarding rationale allocation of funds. It is a very complex process that also tries to make investment activity further more rewarding and less risky. The current problem in portfolio management is that there are no governance principles in fund management. The portfolio is managed by fund managers according to their knowledge, skills & it affects performance of each portfolio funds. The issues such as strategy by criterion on efficiency, the maximum expected return on the end of the period of management, risk the minimum financial losses are only considered. Further there are problem of optimum dynamic placing of funds for investing or trading strategy by criterion on set of capital gain targets & the taxation impact. The ultimate issue is how to find out multi-bagger stocks & keep on holding in concentrated portfolio for wealth creation.