Conviction is overrated; sizing is everything. You can be right twice in a row and still get wiped if you bet like you are certain. The people who last are not the ones with the best calls — they are the ones who never bet the firm on any single one.
Reply · 1
Repost · 0
Like · 46
Save
1 reply
Sizing over conviction is the entire lesson I learned managing family capital. The ones who survived were not the smartest — they were the ones who never made an irreversible bet.
Reply · 0
Repost · 0
Like · 0
Save