A portfolio that emphasizes capital gains has two main disadvantages. First, it tends to be higher volatility and higher risk compared to income investing. Second, selling assets draws down on your portfolio's principal. While you can reinvest some of your money, this still reduces your portfolio's overall value.In most cases, capital gains and income have different profiles. When you emphasize capital gains, your main advantage is the opportunity for growth. In most cases, you will make more money by selli ...