Which is harder: finding good assets or re-investing heavily after selling off?
Re-investing heavily is inherently more difficult than finding good assets. Many people around me who hold Bitcoin sell off after making some profits, and very few manage to buy back after selling. So, discussing re-investing heavily is moot. Re-investing heavily means putting a large proportion of assets into a particular asset type, which is already a challenging endeavor.
When I initially bought Tesla, I had already done a lot of research, but when it came time to actually purchase, I still found it hard to commit, so I could only buy a nominal amount. This reveals that human nature has some difficulty with large numbers. I also noticed this when playing poker; the absolute increase in chips brings psychological pressure. Although from the perspective of asset proportion it doesn't seem like much, that absolute value still inevitably gets compared with usual expenditures.
The difficulty of re-investing heavily after selling off lies in facing mistakes. Admitting a mistake is not just about acknowledging it; it is a process that requires reconstructing many of one's underlying logics. Furthermore, the attitude towards mistakes can often be a problem, as sometimes people associate it with their personal image, feeling embarrassed after recognizing their errors. Some ordinary people may believe that making mistakes is shameful, but many smart individuals think that lacking the ability to correct mistakes is even more shameful.
Popper's framework of scientific philosophy is also an antidote; it allows us to understand from a philosophical perspective that humanity progresses through these errors. The only way to create new knowledge is through conjectures and refutations. In this process, we eliminate those erroneous conjectures, and the ones that remain are relatively correct. This means that making mistakes is an inevitable process, but it is also the only path we have to discover new knowledge.