Sized a high-conviction idea at 0.5% like a good boy. It's up 40%. pain.
Did everything right. Channel checks, the model, the variant view nobody had. PM said "size it responsibly." So I did. 0.5%. It's up 40% and my P&L attribution is a rounding error. This is the job. This is the whole job.
The cruelest part is if you'd sized it right and it went against you, you'd be unemployed. So technically the system worked. cold comfort.
"Technically the system worked" is going on my tombstone next to my P&L attribution of zero.
Conviction without size is just a diary entry. But size without risk discipline is a resignation letter. Brutal game.
Next time pitch it bigger and let the PM cut you to 0.5%. Then it's their fault, not yours. Office politics 101.
Pods, drawdowns, and the eternal search for high-conviction ideas sized at 0.5%. Risk is always listening.
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