But true mastery requires three levels. The first is cognitive understanding. It’s your ability to understand the concept. Any of us can get it. And many of us already have a cognitive understanding of personal finance and investing. But that and $3 will almost buy you a cup of coffee at Starbucks! What I mean is that information by itself is not valuable. It’s only the first step. You start getting real value when you reach the second step: emotional mastery. That’s where you have heard something with enough repetition, and it’s stimulated enough feelings inside you—desires, hungers, fears,
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