A few days ago, I was thinking about what money and advantages retail investors still have in the market. It turned out that investment styles are often the result of what Bourdieu called "choices born of necessity." The conversation naturally led to Bourdieu.

Going all-in with leverage on meme coins and high-leverage futures contracts isn't stupid—for many people, it's "the only chance to turn things around." But this is a cognitive trap, a choice that seems optimal under constrained conditions.

The irony is that most people chasing overnight riches end up making small daily gains and then losing it all in one major event.

The retail investor's advantage is the ability to do nothing at all—a small ship turns easily. Because time is the only truly fair resource.

The most fundamental function of finance is temporal transformation and resource allocation. Don't squander your greatest advantage.