The cost of reducing risk Many people are unwilling to admit a fact: to reduce risk, you have to give up some things. You must give up the impulse to chase every hot topic, the illusion of every surge, that dopamine rush of "I can't miss out." Hot topics are indeed exciting, and the feeling of a bubble is like taking drugs. But risk always dances with bubbles; this is an iron law. True risk management is not about "wanting everything," but about "knowing what to avoid." FOMO is the biggest enemy of investors; it makes you greedier when others are greedy, and jump in to buy at the bubble's peak. The market always offers new opportunities, but your principal only has one life. Learning to say "no" is more important than learning to say "yes."