Portfolio

I have always invested the same way, but I am definitely open to new ideas. For a few years I have invested half of my investing money in mutual funds, with the other half in stocks with high 3-5 growth prospects. However, I am starting to take more interest in shorter term investments. I have made/watched some healthy return off of some picks by Cabot, which are typically momentum buys into companies that have already appreciated significantly.  

As far as the conservative half, I've typically gone with large cap growth funds. In the no load mutual fund arena, it seems pretty reasonable to get an annualized 12-15%. My rules for funds in the past have been as follows:  1) must have a 10 year track record of 12% return 2) must have an expense ratio less than one 3) must not have a front end load fee 4) no sector funds. Sector funds can be very profitable, but, for me, they defeat the purpose of a mutual fund - instant diversification. Also, international funds typically have a higher expense ratio, so I consider them an exception to the rule. I would definitely like to have half of my investing money in a diversified mutual fund while I pour my attention into the other half of my portfolio. Thoughts?