Peter Attia

But he said, look, that's the key to being a good investor is you have to have strong convictions because you're going to be putting a lot of capital at risk.

But those convictions have to be loosely held.

So the moment that data emerge that change your thesis for investment, you have to be flexible enough to move as opposed to double down.

And the reason I think that this is such an important part of investing is in science, if you're wrong, the price is not that severe.

In fact, without calling out or embarrassing anybody, there are lots of people who have taken positions on things that are just so patently incorrect 20 and 25 years later, and yet they just can't let go of their baby.

They can't kill their baby.

And so, frankly, they just make fools out of themselves, continuing to cling to ridiculous beliefs.

But there's actually no real price they're paying for that, other than within the scientific community they're laughed at.

But you can't be an investor, you can't be a money manager with that type of mentality, because you'll be out of business.

And so in the final analysis, the dollars talk louder than anything else.

And if you continue to double down on horrible positions, you will lose the money of your LPs and ultimately you will be broke.

So I think that's sort of why it's a great idea to be thinking about through the lens of how an investor functions.

And so I think we just have to all try to do that.

It's hard.

It's hard to kill your babies.

But that was the expression.

Those were the exact words that were used when I first showed up in the lab.

and first started doing experiments and first started getting my data and trying to put hypotheses together and make sense of what I was seeing.

You can have the most beautiful, beautiful hypothesis ever, and it can be categorically slayed by ugly facts.

And that's paraphrasing a quote.