Contrarian Pre-Buy Process

The most dangerous moment in contrarian investing is the moment before entry — when the price is falling, the news is uniformly bad, and every rational observer says you are wrong. A documented seven-step process is the only thing that survives that pressure.

Why This Matters

Marks' most important observation is that contrarian positions feel wrong at the point of maximum opportunity and feel right at the point of minimum opportunity. Structuring the entry as a documented process — completed before the position is taken — ensures the decision is made rationally rather than emotionally at the moment of maximum discomfort.