# Investment Position Sizing Positions should be scaled into depending on the edge provided by our models, over various time frames. If the opportunity is based on a long term model then we scale in overtime because: - **Path dependency**: the assumptions & modelling could change in the medium term to make the opportunity less attractive. We give it time to follow a path that increases our conviction (thesis confirming path). - **Opportunity cost**: There could be better opportunities in the shorter term horizons. - **Optionality**: if we are agnostic over the short-term then there could be an opportunity for buying even cheaper. Taking the full position up front removes optionality to buy cheaper.