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Culture War Roundup for the week of March 30, 2026

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Maybe I'm expecting to much, but when you're hashing stuff out with an actual medical graduate on managing their college loan payouts and they're more than a little clueless while a friend of mine and I are just going 'No... this is easy', it kind of makes you re-think alot of things.

Gellmann's amnesia comes to mind (possibly not quite the right term here). Most people have only studied a select few things in any depth at all, but we still assume that the smart doctor will know a lot about many things for some reason. Status and authority confers construals of wider credibility and competence in the observer's head. The actual polymath or renaissance man is rare, it seems.

Granted, you seem to be less talking about financial acumen and more market management strategy. I would say they're a little bit different, and good market management strategy is alot harder than learning finance. IMO, and from my observations.

Do you mean facts and foundational knowledge versus applied action here? Financial acumen = knowing what EPS means and how to read a balance sheet, the difference between price and value, etc etc?

What most people miss is how much of investing is a mental game, requiring an adoption of new beliefs and discarding many old ones. The person born into a family of highly successful investors would know this, while most of the rest of us chumps seem to pick up more misinformation and limiting beliefs than any sort of solid mentoring.

Do you mean facts and foundational knowledge versus applied action here? Financial acumen = knowing what EPS means and how to read a balance sheet, the difference between price and value, etc etc?

What most people miss is how much of investing is a mental game, requiring an adoption of new beliefs and discarding many old ones. The person born into a family of highly successful investors would know this, while most of the rest of us chumps seem to pick up more misinformation and limiting beliefs than any sort of solid mentoring.

Pretty much. I've seen a bunch of egregious attitudes in regards to, for example, day trading, where alot of people fall into the attitude that they have to trade, despite the market not matching thier models, which turns what should be good tactics into basically betting on the market.

Or, for another example, people who flock in after a boom has occurred, asking if they should invest in your material of choice. (Looking at you, gold.)

Much like in comedy, timing is everything. That's a thing most people think can't be done. They'll parrot platitudes like "time in the market beats timing the market" and talk about how it's basically impossible to do it.

'Sitting out strength' is part of the mental game. I've come to believe that having patience before placing a trade is perhaps even more important than having the patience to wait for the flower to bloom afterwards. Trades are like farts: if you have to force it, it's probably shit.

Much like in comedy, timing is everything. That's a thing most people think can't be done. They'll parrot platitudes like "time in the market beats timing the market" and talk about how it's basically impossible to do it.

And much like comedy, most of them are right that they can't do it and neither can their audience. Timing is difficult. I don't think I could do it consistently, which is why I don't day trade. I DID buy as much as I could scrape up (which wasn't much) during the 2008 crash, but that was kinda playing on easy mode.