The Importance of Confidence in Investing

When you are in a field that rewards confidence, it's important to be confident. The average client is more likely to take advice from someone who says they know the future than someone who says he doesn't. But if you have too much humility and are too convinced that you don't know anything about the future, you can't be a good investor. There's nothing like adding to a position which is temporarily down for incorrect reasons, and have it rebound. You shouldn't buy anything just cause it's up, just because it looks like a winter but you also shouldn't sell anything justcause it's down.