In a time when print magazines such as Life are folding (again) one could argue launching a new magazine is either bold or foolish. Since Condé Nast's new slick Portfolio is focused on business and marketed to executives, one would hope the business decision behind its creation is inspired.

The magazine takes a different tact from Business Week and others that depend on timeliness. Portfolio promises more in-depth, big-picture stories, similar to the editorial content of other CN flagship publications such as GQ, Wired, The New Yorker and Architectural Digest.

Portfolio fills a niche missing in Advance Publication's Condé Nast stable, and will allow it to further leverage advertising sales over a broader demographic. It has launched with an expectation that circulation will hit 350,000 this year, and it plans to market the magazine through American City Business Journals, another branch of the privately-held Advance Publications family.

CN expects the readership to skew 2-1 male, with a median family income over $140,000, household assets in excess of $1.5 million, and investments over $1 million.

I don't expect to receive any subscription offers.