A Position Is a Tool: Why I Don’t Marry My Investments

Three days of the same question. Why bitcoin? Why bitcoin treasuries? Why that stock?

I appreciate the curiosity. Truly. But the answer is far less romantic than people seem to want.

I Invest to Make Money

That’s it. That’s the whole philosophy. I don’t marry positions, and I don’t need them to agree with my worldview.

A position is a tool. You pick up the wrench because the bolt needs turning, not because you’ve developed feelings for the wrench. When the math stops working, the tool goes back in the drawer. No feelings involved. No farewell speech. No tearful “but I believed in you.”

The internet tends to treat holdings like sports teams: pick a jersey, defend it forever, and insult anyone wearing a different color. That’s a great way to have a personality. It’s a terrible way to manage money.

Finding Asymmetry Before Consensus

The job is not to be loyal. The job is to find asymmetry before consensus does. Where is the downside limited and the upside wide, and has the crowd not noticed yet? Once everyone agrees, the asymmetry is usually gone, and so is the reason to own it. 💸

2026 in a Nutshell, Written in 1688

If you want the best summary of this year’s market, you have to go back more than three centuries, to Joseph de la Vega, who wrote Confusión de Confusiones about the Amsterdam stock exchange in 1688:

“Take every gain without showing remorse about missed profits, because an eel may escape sooner than you think. It is wise to enjoy that which is possible without hoping for the continuance of a favorable conjuncture and the persistence of good luck.”

The eel always escapes eventually. The only question is whether you were holding it for the right reasons, and whether you let go when the math told you to.

Same rule I follow today: take the gain, skip the remorse, and keep the tools sharp.

Not financial advice. Do your own research.

Originally posted on X by Rosanna Prestia, MBA (@RosannaInvests): https://x.com/RosannaInvests/status/2114388024960401513

Originally posted on X by Rosanna Prestia, MBA (@RosannaInvests): https://x.com/RosannaInvests/status/2116205485808611488