Great topic, of critical import to every interest, and particularly to investing.

I have learned to set hair triggers for cognitive bias because it alerts me to my false beliefs, which are terrible enemies of reason. It is deeply traumatic to examine core beliefs, however, little can be more rewarding in it's ability to create a solid foundation of reason and establish a model for building on that foundation.

"...5 hours of research."

That's about 4.99 hours of research more than most people do before forming opinions. Practically expertise, in relative terms.

Failing up is the only route up. Of course, you cannot lose what you do not invest, so never investing creates a perfect record of 0 losses. However, for some reason no wealth results from such statistical perfection. Clearly, as you continually demonstrate, the proper way to invest is to risk small portions of your capital, so that no single loss can clean you out, but occasional gains are potential to increase your capital overall.

Thanks!