The courage of your convictions: investing through market discomfort

In this episode of Value View, The Merchants Trust lead manager Simon Gergel explores one of investing’s toughest challenges: maintaining conviction when markets move against you. Simon explains why conviction is not blind faith, but a disciplined process of constantly testing investment ideas, questioning assumptions and separating genuine risks from market noise.Using Tate & Lyle as a real-world example, Simon discusses how perception can differ from reality, why improving businesses can still see their share prices decline, and how long-term investors can identify opportunities when sentiment turns negative. The conversation also examines the powerful role emotions play in investing, the behavioural biases that influence decision-making, and why successful value investing often requires going against natural instincts.Whether you're a seasoned investor or simply interested in how professionals navigate market uncertainty, this episode offers practical insights into discipline, objectivity and the importance of staying focused on fundamentals when markets become uncomfortable.Securities mentioned are for illustrative purposes only and do not constitute a recommendation or solicitation to buy or sell any particular security. Hosted on Acast. See acast.com/privacy for more information.