I was in a conversation the other day where social media was being blamed for social problems. For corrupting people’s viewpoints. And causing the fragmentation of society.

My first feeling was one of regret. Regretting not entering Facebook [NASDAQ:FB] at around $150 during the early phase of the pandemic last March. (It now sits over $270).

Then another comment was made that this does not happen in more controlled regimes. Like China. The media may be censored. People might receive a more scrutinised view of the world.

And I was reminded of a key tenet of Western thought. One too many people forget. A thinking person does his or her own research from many sources. They take advice. Then they form their own convictions.

This is also half the process of a successful investor.

I say half, because forming well-researched convictions is only half the work. The harder part is having the courage to act fully on those convictions.

My biggest regret is not acting or taking bigger positions on certain convictions. I was held back by fear. And yet when I consider actions based on convictions — even when some have not succeeded — I find no regret.

Do your research, and when you’re satisfied you’ve found the right answers — back yourself.

If you’ve never been criticised, or doubted, or formed an enemy somewhere along the lines — it’s likely you’ve never stood up for anything meaningful.

So, this week, we act decisively to make more room in our portfolio for new positions. And we close a position with around a 41.5% gain in 5 months…

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