I agree very much with your guess that SBF’s main mistake was pride.
I still have some unpleasant memories from the 1984 tech stock bubble, of being reluctant to admit that my successes during the bull market didn’t mean that I knew how to handle all market conditions.
I still feel some urges to tell the market that it’s wrong, and to correct the market by pushing up prices of fallen stocks to where I think they ought to be. Those urges lead to destructive delusions. If my successes had gotten the kind of publicity that SBF got, I expect that I would have made mistakes that left me broke.
I agree very much with your guess that SBF’s main mistake was pride.
I still have some unpleasant memories from the 1984 tech stock bubble, of being reluctant to admit that my successes during the bull market didn’t mean that I knew how to handle all market conditions.
I still feel some urges to tell the market that it’s wrong, and to correct the market by pushing up prices of fallen stocks to where I think they ought to be. Those urges lead to destructive delusions. If my successes had gotten the kind of publicity that SBF got, I expect that I would have made mistakes that left me broke.