Daniel Egan, from Betterment, shares his story of a risky investment in a double leverage Oil ETF, emphasizing the value of time and confidence over money. Lessons focus on position sizing, costs, and opportunity cost in investing, highlighting the emotional toll and need for thorough understanding. The importance of analyzing investment costs, understanding various instruments, and considering opponents is discussed. Trade-offs in diversification and viewing time as a valuable asset are also stressed in decision-making.
