Imagine you had a chance to ride Renaissance Technologies' Medallion Fund from 1993—those jaw-dropping returns year after year. Would you actually have the conviction to hold?

Here's the thing: what if you could've bought into Facebook at just 1.3x Peter Thiel's entry price? Sounds like an obvious yes, but most people would've paper-handed way earlier. The gap between knowing an opportunity and actually having the stomach to stay in it—that's where real wealth gets made or lost. Same psychology plays out in every bull market cycle.