I spill a lot of words on the various ways people let their own wetware get in the way of their capital. For most people, their behavior is much more important than the stocks they pick or the managers they hire. The watchwords I repeat over and over are: eliminate noise; manage your emotions; watch your costs; understand what you own and why you own it. Lately, I have been seeing the uniquely foolish opposite of this behavior: the belief that investors are being cheated by a cabal of market professionals who share a nefarious intent. We've seen this before. It used to be the market-makers who were at the heart of this conspiracy; then it was the high-frequency traders; now it’s the crypto-traders. Of course, in every trade, as in politics, there are people on both sides. But the bull and bear sides of any market position - or the pros and cons on political issues - is not the same as a deep conspiracy operating in the shadows. That anyone needs to explain this difference in this da...

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