At this point I would rather have a call name of Sillyiamnot than my present of Sillyiam. I have seen the word “conviction” over and over again. Please define “conviction” for this novice.
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Conviction is how confident you are in the outcome of an investment.
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Here is the best I can do. Homo sapiens, being a primate, is easily convinced or ‘has conviction’; that is to say a ‘firmly held belief or opinion’ (OED). Whether that conviction is based on solid or inadequate foundations is the question other apes should always elucidate, deploying a scientific, business-like or logical approach to the evidence despite our genetic predisposition to be infatuated, impressed by famous soothsayers and gurus or ‘follow the leader’.
In the case of investing, the discipline of discipline should always override the conviction of conviction. I taped this to my computer, yet too often the eye glides over it unnoticed like a long-hung and much-loved picture and again it looks down as a post-facto reproach.
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