Unit 1 — The Gap
2 lessons
The most expensive number in investing, and why willpower was never going to close it.
Open with the industry's quietest scandal: the funds investors buy reliably earn more than the investors IN them.
The standard prescription for every investing mistake is 'be more disciplined' — as if the gap were a character flaw awaiting effort.
Unit 2 — The Six Saboteurs
6 lessons
The classic biases, one per lesson — each with the structural counter that actually neutralizes it.
Saboteur one is the deepest wiring of all: losses hurt roughly twice as much as equal gains feel good.
Saboteur two flatters you into ruin: the sense that your attention, your research, your FEEL gives you more influence over outcomes than you actually have.
Saboteur three is the market's favorite: whatever just happened feels like what happens now.
Saboteur four never touches the facts — it just arranges them.
Saboteur five is a shortcut your brain takes a thousand times a day: judging how PROBABLE something is by how easily an example comes to mind.
The final saboteur is the strangest: money is perfectly fungible, but your brain refuses to treat it that way.
Unit 3 — The Practice
2 lessons
Living through drawdowns, and the graduation skill: doing nothing, well.
Not financial advice · Educational only