The tragic thing is that these lessons don't have to be "hard-won". I find it astonishing that a majority of even intelligent people don't do more basic researc

The tragic thing is that these lessons don't have to be "hard-won". I find it astonishing that a majority of even intelligent people don't do more basic research before making major decisions with something as important as their money. A few hours of research should turn up things like bogleheads.org, Bernstein, Malkiel, etc. Heck, a simple google of "site:ycombinator.com investing advice" should get you on the right track to all the advice you need in a few clicks.