After three years of trading, I discovered the biggest problem:

Everyone worships Warren Buffett's value investing philosophy, but they've gotten the temple wrong
Or rather, they've ignored the other half
Value investing has two directions:
Buying when undervalued AND selling when overvalued
Most so-called followers of Buffett have gone down the wrong path
You can't just buy and never sell
Thinking that during uptrends you just need to do nothing
Even the classic fallacy is that index funds beat most people
But can you really handle it when the market drops?
Moreover, don't fall into confirmation bias
Your position size determines your mindset
Using so-called value investing to numb yourself from taking stop losses
Or ignoring risks even when you see them at high prices
Sometimes reducing positions or going cash at peaks is also a form of wisdom
That way you can pick up corpses when others want to bottom fish but are out of cash