The difference between confidence and arrogance is whether or not you can walk the walk. Confidence is a highly desirable quality for managers because it’s married to another prized quality – decisiveness. And as a leader, you won’t be very persuasive unless you make decisions with conviction. In the world of investing, we say people with conviction have “strong hands.” If you’re a confident investor, you’ll put your money where your mouth is. You’ll be less worried about being seen as some market oracle and more concerned about learning how to become a better investor. Investing with conviction means you trust your own judgement. Experienced investors know how important this is for your mental health. You will not sleep well at night if you cannot make a decision and stick with it, even when things appear to be going against you. Today, we have a decision to make. We’re holding a miniscule amount of Appen (APX.AX) and our position is down -30%. We couldn’t be happier, as we ha
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