Borrowed conviction is the most expensive thing in markets. My feed is full of people posting losses on stocks that were being posted about everywhere a month ago. The problem with chasing every hot stock is that when it inevitably draws down 50%, you do not have the conviction to see it through. You never did the work. You borrowed someone else's thesis and it became yours. Conviction cannot be transferred. It has to be earned through your own research, your own understanding, your own reasoning. That is what holds you steady on the red days. Nothing else does. This is why Bitcoin will always be my foundation. I did the work. I understand what I own. I am prepared to ride it to zero.