Conviction
One of my favorite quotes states that you can borrow someone’s ideas, but not their conviction. Q3 2021 hedge fund letters, conferences and more It is a great quote, because it deals with a problem that many investors face. Some of us may be taking tips from others, and may be investing money in companies, without really doing much research. This is a dangerous position to be in, because you are outsourcing everything to another person. You need to get to a point where you have an adequate investment plan for action. Thus, when things change, you would know whether to hold or to fold. I tend t...