Imagine the worst possible timing. The economy turns, your industry gets hit and you lose your job. Money is suddenly tight so you go to check the one thing that was supposed to protect you your investment portfolio and discover it just fell 30% too. Not by coincidence. It fell for the exact same reason you lost your job. That is not bad luck. That is a design flaw and it is hiding in a shocking number of otherwise sensible portfolios. I call it double exposure the quiet habit of betting your investments on the same forces that already pay your salary. When it goes wrong, it...

There is a version of you that is quietly getting richer than you are. Same starting money. Same account. Same holdings you picked. The only difference is that this other you never touched anything after the first day. No rebalancing No taking some profit off the table No moving to cash because the headlines got scary. No rotating into whatever was hot that quarter. Just bought and then went to sleep for a decade. That version of you is a ghost And there is a decent chance the ghost is winning. We spend enormous energy comparing our returns to the S&P 500 to our neighbor to some influencer's...