Basic cognition is addition: learn more indicators, read more news, listen to more messages. The result is brain overload and decision paralysis.



Advanced cognition is subtraction: eliminate noise, block emotions, and focus on first principles.

The bad habits you need to iterate away from:

1. Trying to explain every fluctuation.

2. Believing in a perfect prediction system.

3. Holding on tightly during losses, but unable to hold during profits.

Investing is like sculpture. You don't need to add anything; you just need to chip away at the parts that don't belong to "rationality." What remains is profit.
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