After three years of investing, I discovered the biggest problem:

Everyone worships Buffett's value investing at the wrong altar
Or rather, they ignore the other half
Value investing has two directions
Undervaluation is value investing, overvaluation is value reversion
Many so-called Buffett followers have gone down the wrong path
You can't just buy and never sell
Thinking that as long as you do nothing during rallies, that's enough
Even the classic fallacy goes that index funds outperform most people
But can you really handle it when things crash?
Also, don't fall into confirmation bias
Your position size determines your mindset
Using so-called value investing to numb yourself into avoiding stop losses
Or ignoring risk even when you spot it at high prices
Sometimes reducing positions or going to cash at peaks is also wisdom
That way you'll have money to pick up the pieces when others want to buy the dip but can't afford to