Financial markets fascinate. For traders, the lure of seemingly easy riches is irresistible. Across an ever-growing and ever-cheaper opportunity set, every minute of every day brings new risks and rewards. While investors aspire to the longer view, they are just as attracted to the alluring promises. Of course, success in markets isn’t easy. In the timeless words of the great Charlie Munger: “It’s not supposed to be easy. Anyone who finds it easy is stupid!” Importantly, Munger’s success—alongside his long-time business partner at Berkshire Hathaway, Warren Buffett—is widely viewed as a function of their superior skill. Deploying it for decades,…

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