Remember when Stanley Druckenmiller torched $3 billion chasing tech stocks at the peak of the 2000 dot-com mania? Guy's a legendary trader, right? Built his reputation on discipline and risk management.

Then the bubble hit. FOMO kicked in. He piled into names he knew were overcooked.

Afterward, someone asked what he learned from the disaster.

His answer? Brutal honesty: "I didn't learn anything. I already knew I wasn't supposed to do that."

That's the thing about markets. Knowing the rules doesn't mean you'll follow them when everyone else is getting rich. The hardest part isn't understanding risk—it's respecting it when the music's still playing.