4 weeks ago, I said I wasn't buying the SpaceX IPO.

SpaceX is now trading at around $133 a share. That's below the IPO price of $135 and more than 40% down from its IPO high of $226. I know what some of you are thinking, Andy, you saw this coming. Well, I'm not here to say I told you so, although maybe just a little, because before the IPO I made both a YouTube video and wrote a newsletter explaining exactly why I wasn't buying SpaceX. Not because I dislike the company, no, it wasn't about that. I actually think SpaceX is one of the greatest businesses ever built. The The problem wasn't the business. The problem was the price. One of the biggest investing mistakes most people make is assuming that a great company automatically makes a great investment. It doesn't. And a wonderful business can still be a terrible investment if you pay too much for it. That's why Warren Buffett famously said, price is what you pay, value is what you get. So the market was caught up in excitement, the headlines, the hype, the fear of missing out. So just pure FOMO, right? But investing is not about buying what everyone is talking about, what's popular. It's about understanding understanding your own risk tolerance, your capacity to bear risk, and your own long-term plan with financial education. Now, could SpaceX still become an incredible investment one day? Absolutely. Maybe. But the real lesson is not that SpaceX is a bad company. The lesson is this: being a successful investor— and I've done this for 20 years now— it doesn't require you to be the smartest person in the room. It requires you to avoid the madness of crowds, the euphoria when everyone is buying, and also the panic when everyone is selling, because that's when some of the opportunities come. That's how financial freedom is built quietly, patiently, one sensible decision at a time. And if you haven't watched my original SpaceX video yet, go back and watch it on Moneywise Doctor YouTube channel. The prediction is not the important part. The thinking is.