Recently, I’ve seen a lot of friends in the crypto space getting humbled by the U.S. stock market. They used to crush it on-chain. But the moment they stepped into U.S. stocks, seeing AI, chips, space, and robotics, they suddenly felt like they were doing value investing. Then the market dipped, and they realized: Making money in crypto doesn’t mean you understand every market. The money you made in crypto might be because you understood attention. You knew which narratives could spread. You knew where liquidity was flowing. You knew who was setting the pace. And you knew when to ape in and when to exit. That’s not luck. That’s definitely a skill. But that skill doesn’t automatically translate into: Understanding a company’s profits. Understanding its valuation. Understanding the cycles of its industry. Understanding whether it’s overpriced or not. The most dangerous thing isn’t not understanding. The most dangerous thing is: You only understand a few AI buzzwords, and you take positions outside your circle of competence. You bring the courage you had buying meme coins and apply it to companies with trillion-dollar market caps. Only to realize, you’ve just entered a more respectable FOMO arena. Your circle of competence isn’t there to limit you. Of course, you can study U.S. stocks, AI, or any new industry. But until you truly understand it, it’s best to admit: This isn’t my battlefield. The market doesn’t owe you the next answer just because you made money last time. Truly mature people don’t think they know everything. The more money they make, the more they understand which money shouldn’t be made in ways they don’t understand.