Belief comes before results
Make decisions with less information 40-70%
You can’t wait until everything is clear, you have to predict/forecast the most likely outcome before it is obvious.
Capital Allocation
Your ability to outperform the benchmark consistently over large time frames.
This is what separates billion dollar company’s from million dollar company’s.
The best investments are always made in either a bear market or at a time in which the company was unpopular with the rest of the investment community.
“You can practice shooting 8 hours a day, but if your technique is wrong, then all you become is very good at shooting the wrong way.
Get the fundamentals down and the level of everything you do will rise.”
Position sizing during periods of drawdown:
Reduce size by a certain percentage when the drawdown reaches a particular threshold and then, when the drawdown is over, resume trading at the normal size.
The primary goal of trading should be to stay in the game.
Time is on your side.
A system or method with positive expectation eventually will make you rich, sometimes beyond your wildest dreams.