正因为人无法理解认知之外的世界，所以也无法相信自己能力之外的事情。

Because people cannot understand a world beyond their cognition, they are incapable of believing in things that exceed their own abilities.

If you can stick it out and never sell at a loss, by the time you're 60, you'll be like Buffett, making tens of times your money. The question is, can you hold on until you're 60? For the past 15 years, from age 25 to 40, every single day has been agonizing, every day a crushing blow, every day mocked by those around you. Would you really find it worth it to trade such a terrible life experience for profits only after age 60?

Someone who completely copies him probably couldn't remain unfazed, right? Your account has grown several times over, and you've already dreamed of buying a house outright—then suddenly it drops, wiping you out. And it stays down for over a decade. During those years, you watch everyone around you buy houses that have already appreciated several times over, while you… back to square one. Let's say you made that investment at 25, putting what would have been a down payment into value investing. By the time you're 40, you've earned exactly zero dollars in 15 years, still living in a rental, transformed from a spirited young man into a dejected middle-aged one. Your wife complains, your kids resent you, blaming you for losing your home in the market. In days like these, I ask you: what do you think about every day?

When it comes to investing, everyone likes to simplify it into this: I don't need to change myself; I don't need to improve myself. Even if I'm utterly useless in reality, even if I have no strengths whatsoever, as long as I pick the right stock, I can utterly crush anyone smarter or more capable than me. That feeling is so intoxicating—it's the true taste of a loser's triumphant rise.

Losers + a good pick = God-tier investor.