After years of investing, I've increasingly come to believe two types of things are scams, traps of human thinking. One is holding leveraged ETFs long-term, like TQQQ. I was one of the first to criticize products like 7709, and I've consistently criticized them. While the prospect of triple returns seems appealing, the core problem is volatility decay. The constant fluctuations erode your principal, and with financing costs, it's a poor long-term investment. The other is buying actively managed funds. I'm increasingly convinced that technical analysis, macroeconomic judgments, sector rotation—all subjective perceptions—ultimately become like random numbers. You can talk a good game, but the actual performance might not be much better than flipping a coin, though you collect management fees year after year. Instead, I believe in not trying to time the market, just buy when you have the money, and hold long-term. Target the S&P 500, or buy BTC or ETH that you believe in. Less fuss, and no need to pay someone to predict your every move.