The Importance of Waiting and Conviction in Investing

Martin Jacobs talks about his observations across seven years of data based on 45 of the world's top investors each which invested basically 10 of their best ideas in the fund. 49% of the ideas actually made no money and only 30% did better than the benchmark but yet no manager actually lost money. Martin says it's important to just be humble markets throw a lot of curveballs there's a lot of randomness in the world.