In psychology, the Dunning-Kruger effect:

The less competent people are, the less they realize their incompetence; the more foolish, the more confident.

Applied to investing, it's the most painful truth:

- Just entered the market a few days ago: Think you're a stock god, can make money even buying with your eyes closed.

- Know a little bit: Dare to go all in, use leverage, chase meme stocks.

- Those who truly understand: The more they learn, the more cautious they become; the more they do, the more conservative.

The most dangerous combination in the stock market:

Ignorance + Confidence + Guts

- Smart people know they have blind spots, they diversify, cut losses, and go slow.

- Fools think they know everything, dare to go all in.

If you can see through this now, you've already beaten 90% of people.

Because the first step in investing is not learning techniques, but admitting your ignorance, respecting the market, and controlling yourself.

True maturity:

Knowing you're ordinary, not overestimating your IQ, not gambling on luck, only making money by following the rules.