An investor without major losses is a liar or inexperienced. Either is suboptimal.
Mirroring action provides zero understanding. You can't know when the music stopped if you never heard the song.
Wisdom is never complete. Humility is always warranted.
Luck matters. But no one “deserves” success and life has a way of humbling those who mistakenly believe otherwise.
Envy is often correlated with IQ, net worth, and comfort. Success triggers comparison. No one ever "arrives."
Find low bars to jump over and learn how to pole vault.
If you can’t clearly see the board, or don’t understand the rules, don’t play the game.
Intellectual honesty starts with holding cherished ideas loosely.
Behavior and interests often diverge, especially when herds and money are involved.
A diversity of circumstances make the market. Find counter-parties with divergent motivations.
Patterns are rarely predictive. Overfit the curve at great peril.