Having conviction means that you do the homework. You are aware of the sector or industry you are involved in but also knowledgeable about how the company you have invested in operates within the sector. The youthful investor only invests because they are aware of the wonderful management, the excellent products and/or services they provide, see great future growth, and are cautious of the risks involved.
So how do you spend your 1 hour of homework per holding per week? The best resource if your holdings are in stocks is Fool.com. Sign up for the CAPS community (which is free) and establish a watchlist of your stocks. Each time you log in all relevant articles pertaining to your choice of stock or sector will be right in front of you. This is an excellent way to do homework and my favorite strategy for success. Beyond that keep reading free material here at YouthfulInvestor.com and manage your investing time appropriately.