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I've always been a contrarian. The problem with being a contrarian is that sometimes the crowd is right and you're the fool.
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I made 50% in 2008 by shorting banks everyone said were safe. The consensus was wrong. It usually is.
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Brexit was the most obvious trade I've ever seen. Sterling was overvalued. The polls were wrong. I bet everything.
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The market rallied 80% and I was short. That's the worst feeling in investing — being right about the fundamentals and wrong about the timing.
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When everyone is buying, I want to know what they're not seeing. When everyone is selling, I want to know what they're missing.