You won big in a round of stock trading—just don’t get lost in a mindset of “I won a round, so I’m smart.” Thinking you can keep winning. Forgetting that some of these wins come from other people’s information, lucky timing, and market momentum.

In the second round you lose, yet you remain stuck in that “I’m smart” mode—only to end up losing everything, including principal plus interest.

The third round is about leverage: selling the house and using leverage. At this point, he still thinks, “It must be because I’m smart.”

The rich can afford to gamble, but ordinary people cannot.