Wall Street Insight #006 I’ve noticed a pattern. Many people lose money not because they bought the wrong stocks— but because they’re overleveraged. ⸻ I used to believe that as long as I picked the right company, profit was just a matter of time. Later, I realized what often determines returns isn’t the stock itself— but the position size. A great company— if you go all-in— might drop 15% in the short term, and your mindset could collapse first. But if you hold the same stock at a normal position size, you’re far more likely to stay patient and hold on. Markets fluctuate every day. No one can guarantee buying at the absolute bottom. So now, I care less and less about: “Is today the best entry point?” I care more about: “If it keeps falling, do I still have ammunition?” Why do so many institutions survive bull and bear markets? Not because they’re always right— but because they always keep options open. Investing isn’t a single bet— it’s a long-term game. Cash is part of your position. Sometimes, holding a little cash feels safer than being fully invested. This has been my biggest shift recently. Instead of focusing on how to buy, I now ask myself first: If I’m wrong, how much can I afford to lose? More often than not, managing risk matters more than chasing returns. Which approach do you usually prefer in investing? A: Go all-in when you’re confident. B: Buy gradually in increments.