The document delves into the importance of conviction in business ownership, detailing the role of explicit and implicit convictions in investing decisions and the concept of Quality in company assessment.
wonderful essay on conviction in investing and life
Letting there be room for not knowing is the most important thing of all. When there's a big disappointment, we don't know if that's the end of the story. It may just be the beginning of a great adventure. Life is like that. We don't know anything. We call something bad; we call it good. But really we just don't know.
In a controversial speech by Lee Kuan Yew who served as the Prime Minister of Singapore from 1959 – 1990, he has a really great line about conviction:
“I ignore polling as a method of government. I think that shows a certain weakness of mind, an inability to chart a course. Whichever way the wind blows. Whichever way... See more