How to Avoid Stocks With Secular Tailwinds

If I can't understand the business model, you're going to have a very hard time sitting through these big corrections or position sizing. It takes a lot of confidence in yourself and your strategy and in the business you're investing in to really have a concentrated portfolio. Even if it's not only a stodgy business, but a stodGY industry group, if there's a secular tailwind that's pushing that company up, you can have huge gains.