18 rules that separate survivors from exit liquidity:
1. Beating the market long-term? Nearly impossible. Accept it.
2. Value > price. Always.
3. Don't chase quality. Chase discounts.
4. Volatility isn't risk. Permanent capital loss is.
5. Peak euphoria = peak danger. When everyone's comfortable, you should be terrified.
6. High risk/high reward is a meme. Hunt for asymmetric bets: low risk, high reward.
7. Trends die. Cycles kill them.
8. The edge is at extremes—when sentiment hits max fear or max greed.
9. Going with the crowd? You're already late.
10. Contrarian thinking is easy. Contrarian execution is where alpha lives.
11. Forget absolutes. Margin of safety is everything.
12. Stop hunting. Start waiting.
13. Predictions are cope. Preparation is alpha.
14. Future's a guess. Present's a fact.
15. Short-term gains = luck. Long-term gains = skill.
16. Offense gets headlines. Defense gets rich.
17. Avoiding blowups > chasing moonshots.
18. Bull market heroes fade. Bear market survivors compound.
This isn't hopium. It's survival math.
1. Beating the market long-term? Nearly impossible. Accept it.
2. Value > price. Always.
3. Don't chase quality. Chase discounts.
4. Volatility isn't risk. Permanent capital loss is.
5. Peak euphoria = peak danger. When everyone's comfortable, you should be terrified.
6. High risk/high reward is a meme. Hunt for asymmetric bets: low risk, high reward.
7. Trends die. Cycles kill them.
8. The edge is at extremes—when sentiment hits max fear or max greed.
9. Going with the crowd? You're already late.
10. Contrarian thinking is easy. Contrarian execution is where alpha lives.
11. Forget absolutes. Margin of safety is everything.
12. Stop hunting. Start waiting.
13. Predictions are cope. Preparation is alpha.
14. Future's a guess. Present's a fact.
15. Short-term gains = luck. Long-term gains = skill.
16. Offense gets headlines. Defense gets rich.
17. Avoiding blowups > chasing moonshots.
18. Bull market heroes fade. Bear market survivors compound.
This isn't hopium. It's survival math.