What makes us special is our convictions
In early 2009, I attended a town hall at McKinsey. It was a tense time globally — the collapse of Lehman Brothers had just triggered a financial crisis, and the U.S. economy was deep in recession.
The atmosphere was uncertain, to say the least.
But to McKinsey’s credit, the leadership stood firm. During the session, partners reassured us that the Firm would take care of its people — and they did. Not a single person was laid off during that crisis. That kind of stability left a lasting impression.
But what happened next taught me something far deeper.
“How Deep Is the Hole?”
During the Q&A, someone asked a partner in the financial services practice:
“This is such a low point in the market — why aren’t we telling our clients to invest?”
After all, most stocks had been hammered. It seemed like a buying opportunity.
The partner’s response stuck with me:
“Clients are willing to invest — but they want to know how deep the hole is. And no one can tell them that. They don’t want to invest in a bottomless pit.”
That made sense. But here’s the irony: if you wait to know how deep the hole is, you’re already too late.
Because by the time the uncertainty disappears, so does the opportunity.
When Fear Dominates, Conviction Matters Most
The best investments — whether in money, ideas, or even careers — are usually made when clarity is lacking, and fear is high.
Just a month after Lehman fell, Warren Buffett wrote a now-famous op-ed in The New York Times with just three words:
“Buy American. I am.”
He then invested $5 billion in Goldman Sachs.
It’s worth noting that Goldman’s stock continued to fall after his investment. He didn’t time it perfectly — but he didn’t need to. What he had was conviction. And over time, that bet paid off handsomely.
The Real Lesson: Conviction Is What Sets You Apart
This isn’t just about investing.
It’s about something deeper — a principle that applies to every aspect of life. Business, leadership, creativity, innovation — none of these fields reward those who wait for certainty.
Conviction is what gives people the courage to act when others hesitate.
It’s what separates those who shape the future from those who simply observe it.
That doesn’t mean taking reckless risks. It doesn’t mean ignoring data or acting on impulse. But it does mean being willing to move even when things are unclear — if you believe in your judgment.
If You Want to Make a Mark, You Need to Stand for Something
There will always be uncertainty. There will always be voices telling you to wait, to be cautious, to get more data, to be sure.
But the people who actually change the game — they’re the ones who act before the fog clears.
They understand that conviction isn’t just a feeling. It’s a decision. It’s the willingness to commit to something, even when no one else is ready.
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