Many people sense something strange in the late stages of a bull market: there’s more information, more experience, more confidence— yet decisions feel heavier, messier, and less clean. This isn’t accidental. It’s a structural deterioration. Early in a bull market, your attention is outward. You observe the environment, analyze logic, evaluate probabilities. But as the cycle progresses, your focus quietly shifts inward—toward yourself. You start thinking about: How much have I made? Where wou...
