In this clip from today’s edition of The Macro Show, Hedgeye CEO Keith McCullough highlights how “conviction” is a misleading term for investors, and that your Cycle call shouldn’t determine your daily trading.
“Don't tell me about your conviction, tell me about your position. I have a very high conviction that it's Deep #Quad4 in Q2, but all I did in the morning was cover shorts."
"I think that's a big thing that people get wrong; when things are working, they start to press them on the short side in a bear market, where you should be booking gains.
Only in bear markets do you get the vicious bounces that'll rip your face off, if you're the one shorting low and chasing high."
